Oceana to sell cold-storage business for R760m
Africa’s largest fishing group wants to allocate capital to opportunities in line with its objectives
Oceana is selling its cold storage business as it looks to allocate capital to opportunities in line with its strategic objectives and its core strengths in the global fish protein sector.
The deal, finalised on Monday, will see the R6.9bn company sell its smallest segment by revenue for R760m to a special-purpose vehicle owned by a consortium consisting of Old Mutual, IDEAS Fund and AIIF4 Fund, both managed by African Infrastructure Investment Managers, Bauta Logistics, and the Mokobela-Shataki Consortium, which is backed by Safika Holdings founder Moss Ngoasheng and Royal Bafokeng Holdings chair Monhla Hlahla...
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