Massive acquisitions sail through CTC
THE Competition and Tariff Commission (CTC) has approved six acquisitions, including the acquisition of TrenTyre subsidiaries by farming implements manufacturer Zimplow Holdings.
Zimplow intends to acquire 100% shareholding in Scanlink, Tredcor Zimbabwe, trading as TrenTyre, Birmingham Investments in Harare’s Willowvale industrial estate.
According to the latest CTC report, some of the approved acquisitions included the acquisition of 82,4% shareholding in Interfresh Limited by Takura Ventures and Takura III, acquisition of 99% shareholding in Comair Limited by K2020704995 (SA) Proprietary Limited in South Africa (SA Bidco), and the acquisition of THI by ZIMNAT.
CTC also approved the acquisition of the entire issued share capital of Direct Pay Holdings by Network International Plc, as well as the acquisition of Mutare Bottling Company by Delta Beverages.
An acquisition of part of the business of Invicta Holdings Limited by CNH Industrial from South Africa also sailed through.
Takura’s acquisition involves Interfresh Mauritius, which in turn holds 100% shareholding in Ice-Jay — the majority shareholder in Interfresh Limited.
“Takura will then acquire these as second phase acquisition. The intention for Takura is to become the sole owner of Interfresh,” the CTC said.
Takura is an investment holding company with tentacles spanning from beef production, a private hospital, retailing of fresh produce, bread manufacturing, manufacturing and distribution of food products, beverages and wines, property development, transport and logistics, merchandising and market promotions to timber manufacturing among several interests.
Several other transactions have also been approved.
ZIMNAT Lion Insurance is a short-term insurance company offering a variety of insurance services including motor vehicle, home and
travel.
THI specialises in niche market insurance products to small-scale and commercial tobacco farmers across Zimbabwe, with special focus on hail insurance.
THI partnered with ZIMNAT in January 2019 to maintain its customers as an agent of ZIMNAT after surrendering its licence.-newsday.co.zw
