Published: 04 July 2013

AGRO-INDUSTRIAL conglomerate, CFI Holdings Limited, is on the verge of concluding a deal for the purchase of a 50 percent shareholding in poultry producer Suncrest by Meat Team, a global meat company.

The deal would result in Suncrest being jointly controlled by both Meat Team and CFI under a 50-50 arrangement.

Under the deal, Meat Team would match already existing CFI assets held by Suncrest at the cost of value.

It was not immediately clear how much this would translate into in monetary terms, but indications are that it would be a reasonable sum to allow revival of Suncrest operations, currently struggling from liquidity problems.

ZSE-listed ZHL chief executive officer, Albert Nduna confirmed that CFI was on the verge of concluding a deal but did not give details.

ZHL has a 40 percent stake in CFI.

Meat Team is a group of companies whose main activities are in the wholesale trade, distribution, import and export of meat, fish and other various food products.
- fingaz

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