MASAWARA PLC Wednesday said it expects the acquisition of TA Holdings Ltd to be sanctioned by the High Court after minority shareholders voted to accept its USD0.2509 per share offer.
The London AIM-listed investment company first said it would acquire the remainder of TA back in July 2014, when it owned 41% of the company.
TA is an investment company with holdings in insurance, hospitality and agro-chemicals.
“This is a goal we have been pursuing for the last two years,” Chairman David Suratgar said in a statement.
TA is an important asset to our group. The acquisition reaffirms our strong belief in the long-term prospects of the Zimbabwean economy.
“We believe that assuming full control of TA will enable us to undertake various initiatives that are expected to deliver value in the medium to long term.”
Masawara is a proactive investment company focused on identifying growth opportunities that deliver cash returns both in Zimbabwe and the southern African region.
The company says it continues to “appraise high quality new investment opportunities in Zimbabwe to add to the investment portfolio and unlocking intrinsic value from the existing investment portfolio”.Advertisement