HomeBusiness DigestDairibord/Interfresh deal collapses

Dairibord/Interfresh deal collapses

NEGOTIATIONS between Dairibord Zimbabwe Ltd (DZL) and Interfresh Holdings collapsed with sources indicating that the two companies failed to make a breakthrough after disagreeing on monetary terms.

Interfresh company secretary,   Stembile Chakunda, could however not

reveal details behind the collapse of the negotiations only saying the deal was no longer being pursued.

“Further to the previous cautionary statement, shareholders have been advised that the strategic negotiations that were being undertaken by the company are no-longer being pursued,” she said.

Chakunda said had the deal been successful it was going to have a positive impact on both companies’ operations.

Although both parties could not reveal the actual amount involved in the deal, sources said the deal was running into several millions of dollars.

DZL wanted to acquire a significant stake in listed horticultural firm Interfresh Holdings.

Market watchers said it was going to be a prudent deal for Dairibord to acquire an exporting company to complement its foreign currency requirements.

Interfresh had over the past four months been publishing cautionary statements advising its shareholders about the deal. — Staff Writer.

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