Business

Zampalm Limited sale sealed

TRYNESS TEMBO, Lusaka
ZAMBEEF Products Plc has completed all conditions concerning the sale of Zampalm to the Industrial Development Corporation (IDC) for a cash consideration of US$16 million.
Recently, Zambeef Products Plc and IDC mutually agreed to extend the sale of Zampalm Limited for a month to allow parties to fulfil the regulatory issues, and Competition and Consumer Protection Commission has since approved the majority acquisition of Zampalm Limited by the corporation.
On September 6, 2017, Zambeef announced that it had entered into a share sale agreement with IDC for the sale of 90 percent of Zambeef’s shareholding in its subsidiary, Zampalm.
“We are pleased to advise that all the conditions precedent to the transaction were completed on…. http://epaper.daily-mail.co.zm/

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