Foreigners eye Dairy Corp
FOUR foreign firms have shown interest in buying out a 70% stake in Dairy Corporation, Prof. Peter Kasenene said on Tuesday.
By Emmy Olaki
FOUR foreign firms have shown interest in buying out a 70% stake in Dairy Corporation, Prof. Peter Kasenene said on Tuesday.
He said the bids for the four were received and approved last December.
The four are Dairy Board Zimbabwe Limited, a consortium comprising Spin Knit Ltd and Spin Knit Dairy Ltd, Brookside Dairy Lt (Kenya) and another consortium of FI Holding Co, SA Clover Holdings Ltd and Carnations Securities Ltd (Luxembourg).
“The bidders are expected to commence their due diligence in the week commencing on February 9 and are expected to submit final bids in mid April. The sale of the 30% to farmers and the public will be effected after the sale to the core investor. The sale mechanism for this is currently being developed,†Kasenene said.
On Nile Hotel Limited , concessioned to Serena Tourism Promotion Services last month, Kasenene said the new management would take on all the old staff. He said $19m would be spent on refurbishment.
He said this year was expected to be very active in as far as the divestiture process was concerned.
He said many public divestitures were expected to be completed by the end of this year.
Ends
FOUR foreign firms have shown interest in buying out a 70% stake in Dairy Corporation, Prof. Peter Kasenene said on Tuesday.
He said the bids for the four were received and approved last December.
The four are Dairy Board Zimbabwe Limited, a consortium comprising Spin Knit Ltd and Spin Knit Dairy Ltd, Brookside Dairy Lt (Kenya) and another consortium of FI Holding Co, SA Clover Holdings Ltd and Carnations Securities Ltd (Luxembourg).
“The bidders are expected to commence their due diligence in the week commencing on February 9 and are expected to submit final bids in mid April. The sale of the 30% to farmers and the public will be effected after the sale to the core investor. The sale mechanism for this is currently being developed,†Kasenene said.
On Nile Hotel Limited , concessioned to Serena Tourism Promotion Services last month, Kasenene said the new management would take on all the old staff. He said $19m would be spent on refurbishment.
He said this year was expected to be very active in as far as the divestiture process was concerned.
He said many public divestitures were expected to be completed by the end of this year.
Ends