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December 3, 2014

Zambeef in talks for divestment of edible oils business

Agribusiness Zambeef is mulling the divestment of its wholly owned subsidiary Zamanita - an edible oil and soy meal producer.

Agribusiness Zambeef is mulling the divestment of its wholly owned subsidiary Zamanita – an edible oil and soy meal producer.

In a statement, the firm said it has entered “preliminary discussions”, with a third party regarding the “potential full disposal” of the business.

For the 12 months ended 30 September, Zamanita recorded revenue of ZMW399.2m (US$67.9m).

Zambeef acquired Zamanita in January 2008. It said the acquisition was strategically important as edible oils complemented the group’s range of food products distributed through its retail network in Zambia. 

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