malvernmugadzikwa
Business Writer
National Foods Limited has sold its 25 percent stake in Pure Oil, the producer of the ZimGold cooking oil brand for an undisclosed amount, Business Weekly has learnt.
“All relevant filings were made with regulatory authorities, including the Competition and Tariffs Commission, and approvals have been obtained,” a senior executive at National Foods, who preferred not to be identified said.
“Very soon, we shall be making announcements in line with listing requirements.”
The executive could not be easily drawn into disclosing the purchaser of the NatFood stake.
A source at the CTC also confirmed that approvals have been made “and the respective companies publish the notices in due course.”
NatFoods is a unit of Innscor Africa Limited, which has vast interests in meat, stock feed, poultry and fast foods.
Pure Oil, which also produces margarine and soap is one of the largest cooking oil companies in Zimbabwe.
One of the major shareholders in the company is Agri Value Chain Zimbabwe, a company that has business interests in cotton ginning and textile.
It also owns one of the major cooking oil companies in Zambia.
Michael Lashbrook, the chief executive of National Foods was not immediately available for a comment.
Bongani Ndlovu