Published: 30 July 2013

Celsys said discussions with a local investment group led by Mr Lovemore Chihota regarding the offer for the acquisition of all the assets of its Blueberry International subsidiary had since been completed.

Blueberry International holds numerous entities in various jurisdictions, which includes Cambria's 60 percent shareholding in Celsys.

The Celsys board said that it was convinced the new controlling shareholder had technical and financial muscle to bring Celsys to profitability.

Cambria owns 61 percent of Celsys, which specialises in security printing and provision of information technology and telecommunications.

Cambria also owns 100 percent of Millpal, 51 percent of pharmaceutical distributor Panafmed and 51 percent of mobile software producer ForgetMeNot.

Cambria, previously LonZim, held a 79 percent shareholding in beachfront-located Adeamento Turistico de Macuti Hotel in Mozambique and planned to invest the proceeds of that sale in Zimbabwe.

In addition, the ZSE-listed firm owns 100 percent of electronic transfer solutions Paynet and the exquisite Leopard Rock Hotel in the Eastern Highlands.
- herald

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