https://www.polity.org.za
Deepening Democracy through Access to Information
Home / Press Office / Webber Wentzel RSS ← Back
Close

Email this article

separate emails by commas, maximum limit of 4 addresses

Verification Image. Please refresh the page if you cannot see this image.

Sponsored by

Close

Embed Video

AFGRI / AgriGroupe merger approved

2nd April 2014

SAVE THIS ARTICLE      EMAIL THIS ARTICLE

Font size: -+

Mauritian-based AgriGroupe's acquisition of local agricultural and diversified foods company, AFGRI has been approved by the Competition Tribunal subject to a number of conditions set out in an agreement entered into between the State and AFGRI. In terms of this agreement, AFGRI:

  • will make ZAR 90 million available to establish a fund for the benefit of emerging farmers (AFGRI Fund);
  • will make ZAR 60 million of the AFGRI Fund available for a development program for emerging farmers that will include academic courses and practical training;
  • will use part of the AFGRI Fund to assist poultry farmers;
  • will use part of the AFGRI Fund to cover bad debts resulting from the provision of loans to emerging farmers;
  • will give grain storage discounts to emerging farmers;
  • will provide technical support for alternative grain storage facilities;
  • undertakes that no retrenchments will result from the merger; and
  • will not relocate its head office outside of South Africa.

The reasons for the decision were not at the time of writing publicly available. Desmond Rudman of Webber Wentzel acted for AFGRI in this matter. For background to this merger approval, see our February update (available here).

Advertisement

Source

To watch Creamer Media's latest video reports, click here
 
Advertisement

EMAIL THIS ARTICLE      SAVE THIS ARTICLE

To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here

Comment Guidelines

About

Polity.org.za is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Mining Weekly
Research Channel Africa

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Polity.org.za is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Register Close