Zeder concludes Capespan buyout

Global fresh fruit exporter Capespan is now formally part of agri-investment holding company Zeder.

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This follows a R630 million transaction which saw the JSE-listed Zeder buying the outstanding 25% of shares it didn’t own in Capespan, excluding shares held by management, according to a statement.

In an interview with Farmer’s Weekly recently, Zeder CEO Norman Cilliers was optimistic that Capespan would agree to Zeder’s “very attractive and generous offer”.

The offer consisted of 85 Zeder shares for every 100 Capespan shares.

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“The strategy provides for an enhanced service delivery to local producers with which Capespan already has a long and established relationship, as well as to international clients to which produce is delivered.

We want to strengthen these relationships considerably and invite all local producers to become part of it,” said Cilliers.