AVI shares jump on news of possible asset sales
Fast-moving consumer goods group AVI’s share price rose 4% to R98.45 on Thursday morning, after AVI announced the potential sale of some of its businesses."Shareholders are advised that AVI has received a number of expressions of interest for certain of the group’s business units which may be value-enhancing for shareholders," the statement said.Its board had appointed Rand Merchant Bank to assist in evaluating these offers.AVI’s subsidiaries range from food to cosmetics and also include shoe makers Spitz and Green Cross. Its food and beverages brands include Five Roses tea, Bakers biscuits, Willards chips and I&J frozen fish.
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