Sovereign Food Investments
Sovereign Food Investments has booked half-year losses of ZAR36m on the back of pressure from feed prices and the cost of defending itself from a hostile takeover bid from fellow South African poultry group Country Bird Holdings.
Country Bird Holdings CEO Marthinus Stander said the South African poultry group would not seek another acquisition target should it decide not to pursue its interest in local rival Sovereign Food Investments.
Sovereign Food Investments, the South African poultry group that mounted a legal challenge against a takeover bid from local peer Country Bird Holdings, has said the country's government has ruled the offer contravened regulations.
Sovereign Food Investments, the South African poultry group that is subject to a takeover bid from local rival Country Bird Holdings, has said it expects to report a loss for the first six months of its financial year amid a spike in raw material prices and the cost of defending itself from the prospect of a sale.
Country Bird Holdings' bid to buy fellow South African poultry group Sovereign Food Investments has taken a fresh twist, with the takeover target claiming its suitor's move to change a key condition of its bid is illegal.
Country Bird Holdings' bid for fellow South African poultry group Sovereign Food Investments has been judged to be "fair and reasonable", the takeover target said today (19 August).
Sovereign Food Investments, the South Africa-based meat processor, has posted higher annual sales and profits, with the company's focus on its costs and on growing sales of "value-added" products helping the business the impact of drought on the country's poultry sector.
South Africa's Astral Foods has denied it has made an offer to acquire a stake in fellow poultry processor Sovereign Food Investments.
Sovereign Food Investments, the South African poultry business, today (12 October) confirmed a series of measures, including a Black Economic Empowerment (BEE) transaction, a week after announcing mystery talks that could have affected its share price.
Sovereign Food Investments, the South African poultry group, has been forced to follow up last week's announcement it was in talks that could affect its share price by confirming the discussions do not "in any way relate to a competitor transaction".
Sovereign Food Investments, the South African poultry products supplier, has said it is in talks that could affect its share price.
South Africa's Sovereign Food Investments is to acquire the Tydstroom Abbatoir from local company Quantum Foods.
Sovereign Food Investments, the South African poultry processor, has booked a jump in earnings on the back of higher sales in the first-half.
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