SA’s largest investor, the Public Investment Corporation (PIC) and Pelo Agricultural Ventures are set to buy a majority shareholding in Karan Beef for up to R5.2bn. Karan Beef, which was founded more than 40 years ago, operates the largest cattle feedlot and abattoir on the continent. The company was created in 1974 by the Karan family and is based in Heidelberg, Balfour and City Deep. It is solely owned by Ivor Karan. The feedlot accommodates 150,000 head of cattle at any given time. The Balfour-based abattoir has the capacity to process 2,100 herd of cattle every day. Karan Beef agreed in September to pay a fine R2.7m after the Competition Commission found that the company had divided the beef market by allocating customers and specific types of goods in contravention of section 4(1)(b)(ii) of the Competition Act of 1998. The company processes 2,040 head of cattle daily and debones up to 300 tonnes of meat a day. SA is Karan’s biggest market, but also has a substantial export mark...

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