Zeder leaps on R1.6bn deal to sell logistics business
News of stake’s sale lifts share price as much as 9.2% after group operated under cautionary for months
12 November 2021 - 10:27
Agribusiness-focused investment holding group Zeder has inked a R1.6bn deal to sell its majority stake in transport-services business The Logistics Group (TLG), news that sent its share price to its highest level since it unbundled its Pioneer Foods stake in early 2020.
Zeder, part of the PSG Group stable founded by Jannie Mouton, has been reviewing its portfolio, with its shares under cautionary since April amid “several approaches” from buyers interested in parts of its business. This has led analysts to question the future of the group’s JSE listing...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.