SAD – Another Zambian owned company – Zambeef taken over by British firm BII after a failed $13.5m rescue deal with govt on Chiawa farm
British state-owned enterprise takes over Zambeef ownership because of debt
Zambeef Update
British International Investment (BII) the British parastatal, takes over ZAMBEEF
After 16th September 2024 BII will own 58.7% of Zambeef becoming the majority shareholder. BII will now have significant voting power and influence over decisions at shareholder meetings.
If BII wanted to take Zambeef private, they could offer a premium above the market price to convince shareholders to sell their shares. Premiums in such transactions can range between 20% to 40%, depending on the circumstances.
At the current share price of 0.054 GBP, BII would spend less than £20m to acquire a company with an Enterprise Value approximately £165m.
