THE MARKET yesterday welcomed the move by Zeder, which has investments across the agribusiness spectrum, to agree to dispose of its Capespan Group majority stake through its wholly-owned subsidiary Zeder Financial Services Limited (ZFS).
The group said the agreement excluded its pome fruit primary production operations and the Novo fruit packhouse, Pome Farming Unit.
The share price jumped yesterday to a high of nearly 12% at R1.80 on the JSE, later moderating to close at R1.70.
“Following the implementation of the disposal, Zeder will continue to own the Pome Farming Unit and as part of the disposal will conclude a strategic relationship with Capespan in respect of the marketing and distribution of the Pome Farming Unit’s crops,” it said.
Zeder, through its wholly-owned subsidiary ZFS, holds 92.98% of the issued…