<\/p>\n
The Competition Tribunal has unconditionally approved a transaction that will see a consortium comprising the Government Employees Pension Fund (GEPF) \u2013 represented by the Public Investment Corporation (PIC) \u2013 Phatisa SPV and Wiphold Shelfco acquire joint control of agricultural business Zaad Holdings.<\/p>\n
Zaad, which operated as an agricultural input platform, was previously a wholly owned subsidiary of investment holding company Zeder Investments.<\/p>\n
Listen\/Read: Consortium inks R1.4bn deal to boost food security<\/p>\n
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In February this year, Zeder agreed to sell Zaad to the consortium for R1.4 billion.<\/p>\n
Following implementation of the deal, the consortium will jointly control Zaad, which operates as a seeds supplier, as well as the development and distribution of agrochemicals, including agricultural remedies and fertilisers.<\/p>\n
According to a statement issued by the Competition Tribunal, the GEPF has non-controlling interests in a number of businesses active in the wider agricultural sector, including poultry farming, dairy production, and grape and citrus production and exports, which were relevant to the competition assessment.<\/p>\n
Phatisa SPV is a newly incorporated South African special purpose vehicle. Its broader group operates as an African private equity fund manager focused on investments in the food value chain and affordable housing sectors.<\/p>\n
In South Africa, the broader Phatisa group has investments in businesses supplying heavy equipment to the earthmoving, quarrying, mining and construction industries, as well as companies providing facilities management services such as catering, cleaning, maintenance, waste management and pest control.<\/p>\n
Wiphold, under the leadership of well-known businesswoman Gloria Serobe, has interests spanning infrastructure, food and agriculture, financial services, mining, energy and services.<\/p>\n
Read: New twist in dispute between GEPF and PIC over property transaction<\/p>\n
#Tribunal #clears #consortiums #acquisition #Zaad<\/p>\n","protected":false},"excerpt":{"rendered":"
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