Agribusiness company Zeder Investments intends to return up to R4.75bn to shareholders from the proceeds of the mooted sale of Pioneer Foods to PepsiCo.

Zeder, which has a 28.6% interest in Pioneer, has backed the R24.4bn deal in which PepsiCo has made an all-cash offer to buy 100% of the Pioneer ordinary shares for R100 per share.

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