AGRICULTURE NEWS - A newly formed company, Milco SA, has announced that it would make an offer to acquire the entire issued share capital of Clover Industries Limited for R25/share, valuing the company at R4,8 billion.
Aran Oelsner, the CEO of CBC Group International, an Israeli company that will own 60% of Milco following the transaction, told Farmer’s Weekly that the acquisition was viewed as a stepping stone to expand operations into Africa.
He said the company was also looking forward to expanding and exploring the informal sector potential within South Africa’s townships and hoped to bring greater innovation to the South African dairy industry.
Richard Izsak, chief of staff at the CBC Group, said that this was the company’s first foray into Africa, but he expressed confidence that the rest of the role players in the consortium had unique experience in an array of fields that would slot in with the larger strategic objectives.
