HomeBusiness DigestAriston boss upbeat on Delta's buy

Ariston boss upbeat on Delta’s buy

Roadwin Chirara

ARISTON managing director Kumbirai Katsande says he hopes Delta’s proposed buy into the horticulture company will inject fresh funds in the company.

na, Arial, Helvetica, sans-serif”>Katsande said he was looking forward to having the beverage maker as one of the key shareholders in the company.

“We hope the deal goes through as planned as this will prove beneficial to

the company as Delta has the required capital base to inject fresh funds into the company’s operations,” Katsande said.

Delta has placed an unconditional offer to Ariston shareholders based on either a share swap of 9,3 Delta shares for every 100 Ariston shares held, or an outright cash settlement of $70 070 for every 100 Ariston shares.

He however refused to say whether Ariston was in urgent need of a cash injection.

He said Delta’s proposed investment in Ariston would help the company expand its operations.

Meanwhile, Ariston says it has concluded an acquisition deal with tea maker, Capital Tea of Marondera, for a cash consideration of $3 billion. Katsande confirmed the acquisition.

“We recently concluded the acquisition of Capital Tea in Marondera for $3 billion,” Katsande said.

The deal is aimed at allowing the horticultural concern with vast interests in tea and rose production access to Capital Tea’s established brands such as Three Leaves and Crest Tea.

“We believe it’s a strategic acquisition for the company considering this will allow us access to its established brands of teas,” said Katsande.

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