Clover to delist from the JSE on Wednesday
Food and beverage group Clover will delist on Wednesday, following the competition authorities’ September approval of consortium Milco’s R4.8bn bid.
The Competition Tribunal approved the takeover of Clover by Milco consortium, which is led by Tel Aviv-based Central Bottling Company (CBC).
The tribunal, however, has put a three-year moratorium on retrenching 516 workers, instead of the two years proposed by Milco and Clover.
Clover has said it may appeal the tribunal’s decision, though it said any appeal would not affect the implementation of the merger.
Clover’s share price has risen 10.2% since the tribunal approved the merger. Clover closed at R24.82 on Wednesday, having risen 36.45% so far in 2019.
News Category
- International retailers
- On the move
- Awards and achievements
- Legislation
- Wine and liquor
- Africa
- Going green
- Supplier news
- Research tools
- Retailer trading results
- Supply chain
- Innovation and technology
- Economic factors
- Crime and security
- Store Openings
- Marketing and Promotions
- Social Responsibility
- Brand Press Office
Government’s Ban on Hemp and CBD in Food Challeng…
Civil rights organisation Free SA has formally demanded answers from the Minister of Health, Dr. Aaron Motsoaledi, regarding the recently published Regulations Relating to the Prohibition of the Sale, Importation and Manufacture of Foodstuffs Contai…
Woolworths resolves supply issues, promises full…
By: Dhivana Rajgopaul – IOL Business
Woolworths shelves are expected to be full by the end of the week at the latest, following shortages that the retailer experienced last week.
Woolworths faces meat, vegetable shortages amid s…
By: Dhivana Rajgopaul - IOL
After South African comedian Rory Pezter shared a post on X (formerly Twitter) about the alarming shortage of meat on Woolworths' shelves, the retailer promptly acknowledged the issue.
Woolworths confirms avo shortage as logistics del…
By: Nick Wilson – News24
Retail group Woolworths confirmed on Wednesday (15/01/2025) it is experiencing a shortage of avocados, saying this is due to a shift in harvesting times in KwaZulu-Natal, lower volumes in the Eastern Cape and logistical del…
Lucky Star owner Oceana denies link to counterfei…
By: Marelise van der Merwe – News24
Lucky Star has distanced itself from a consignment of counterfeit canned pilchards seized during a raid last week, owner Oceana said in a statement on Tuesday (19/11/2024).