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simply the process of getting fresh investment.
The bidders are local companies Dairibord Holdings and Judah Holdings Limited and South African firms Vasari Global Limited and Eastern Trading Company Limited.
Investors are largely targeting to acquire the Reserve Bank of Zimbabwe’s 67 percent shareholding in the group. The RBZ is selling its investment to pay-off debts.
The majority of shareholders and creditors of the company yesterday approved the judicial manager’s proposal for a scheme of arrangement that would bring the new investor.
Online Reporter