American firm seeks stake in Bolux

Bolux has 30 percent market share in local maize meal industry
Bolux has 30 percent market share in local maize meal industry

The Competition Authority (CA) has received a proposal from Seaboard Botswana Holdings to acquire a 49 percent stake in Ramotswa based milling company, Bolux Group.

Seaboard Botswana Holdings is a company registered in the Bahamas, which was established for the purpose of acquiring the minority interest in Bolux Group. It is a wholly owned subsidiary of Seaboard Corporation, a US listed entity with investments globally, in the food processing grain-trading sector.

Nkosi Mwaba, Bolux Group head of corporate affairs, indicated that the purpose of this transaction was to secure an investment and inject capital into the company.  He said Bolux Group operated a plant, which was 30 years old and in need of refurbishment and technological upgrades.

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