Israel-based Central Bottling Company (CBC), the leader of the consortium that has dangled a R4.8bn offer for Clover, plans to make townships and export markets the focus of the branded foods and beverages group’s future growth. A consortium made up of international and local investors has offered to buy Clover for R25 a share, which represents a 25% premium on Friday’s closing price of R20 a share. The deal is going to culminate in the delisting of the producer of Tropika, Clover Krush and Milo from the JSE and the Namibian Stock Exchange. Milco, a new company established by a consortium of international investors, JSE-listed and black-controlled investment company Brimstone Investment Corporation and Clover management, said on Monday it had secured support from a number of Clover’s major shareholders, who collectively own 49% of the company. CBC International chief of staff Richard Izsak said CBC was attracted by Clover’s array of established brands and infrastructure. “We were ex...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.