African Empowerment Equity Investments (AEEI), which controls recently listed Premier Fishing & Brands and Ayo Technology Solutions, has an appetite for a bigger chunk of consumer brands giant Pioneer Foods. AEEI, one of the few enduring empowerment counters on the JSE, already holds a 0.75% stake in Pioneer after participating in an empowerment scheme in 2012 when almost 29-million shares were issued to black investors. AEEI’s empowerment stake is worth about R143m at the ruling Pioneer share price. Responding to questions from shareholders at an annual general meeting on Friday, AEEI CEO Khalid Abdulla confirmed there would be interest in buying a bigger stake in Pioneer. He added that it might be an opportune time to mull such a deal as the Pioneer share price appeared to offer good value at current trading levels. “But we’d still want a bigger discount on the share price. Our intentions will come to light in the next three to four months,” he said. Shares in Pioneer, which owns ...

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