No word yet from Brimstone on Clover deal due to lobby group
The black-owned investment firm says it is still reviewing its participation in the R4.8bn Clover transaction
Almost two months after Brimstone said it would review its participation in the Israeli-led consortium eyeing Clover in a R4.8bn deal, its prospective partners are still in the dark about their final decision. Brimstone was due to take a 15% interest in the Milco consortium, which made a firm offer to buy the producer of dairy and non-alcoholic beverages two months ago. But on February 7, days after the announcement of the transaction, Brimstone, which is the majority shareholder of fishing and food company Sea Harvest, made an about-turn following some outcry as pressure against the deal mounted. Lobby group Boycott, Divestment and Sanctions SA (BDS) threatened a boycott of Clover due to the consortium being led by Israel-based Central Bottling Company (CBC). Through its foreign subsidiaries, CBC has manufacturing and distribution operations in Turkey, Romania and Uzbekistan. In a further cautionary announcement on March 22, Brimstone, which has investments in industries such as fa...
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