Three Dairibord shareholders mull sale of controlling stake to unnamed buyer
Three major shareholders of Dairibord Holdings are negotiating the sale of a 51% controlling stake to an unnamed buyer. This move coincides with the company's planned delisting from the Zimbabwe Stock Exchange and migration to the Victoria Falls Stock Exchange.
Why it matters
The potential change in ownership and exchange migration signals a major structural shift for Zimbabwe's largest dairy group amid declining profit margins.
HARARE - Three shareholders with a combined stake of 51% in Dairibord Holdings Limited have reportedly entered negotiations with an unnamed third party for sale of their shares in Zimbabwe's largest dairy and beverages group, the company said in a cautionary statement released at the weekend.
Equivest Asset Management (Pvt) Ltd, Mega Market (Pvt) Ltd and Mutare Mart & Exchange (Pvt) Ltd jointly notified the Dairibord that their combined shareholding exceeds 51% of the company's issued ordinary shares, meaning any successful buyer would gain effective control of the Zimbabwe Stock Exchange-listed company.
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