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HCI has acquired a 33.9% stake in KWV
The company said it funded this deal out of its existing cash resources.
KWV operates in the wine and brandy industry.
Earlier today in a separate statement, Zeder Investments said it had accepted an offer by HCI to buy out its 31.8% shareholding in KWV.
Zeder is an investment company that focuses on the agricultural, food, beverages, food processing and related sectors.
The purchase consideration payable by HCI to Zeder is R11.80 per KWV share, to be settled in cash.
Source: I-Net Bridge
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