Business

IDC, ZCCM-IH to swap stakes

KALONDE NYATI, Lusaka
INDUSTRIAL Development Corporation (IDC) and ZCCM-Investments Holdings (IH) are expected to swap stakes in some entities to achieve optimisation of operations and unlock opportunities for synergy within the group.
In a market announcement entitled proposed group portfolio rationalisation and re-organisation, IDC intends to transfer its 25 percent equity stake in Kagem Mining Limited to ZCCM-IH.
On the other hand, ZCCM-IH will transfer its 71.4 percent equity stake in Investrust Bank Plc at fair market value.
ZCCM-IH will also transfer its 100 percent stake in Mushe Milling Limited to IDC at fair market value, which will be determined by the evaluators.
The planned transfers are, however, subject to approval by relevant statutory regulatory authorities and CLICK TO READ MORE



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