TSL, Nampak deal collapses
…Mandiwanza cites shifting fundamentals, value concerns, shareholder approval hurdles
SAMANTHA MADE Tobacco Sales Limited (TSL), a publicly traded agribusiness firm, has abruptly abandoned its proposed US$25m acquisition of a controlling 51.43% stake in packaging company Nampak Zimbabwe Limited, with board chairman Antony Mandiwanza stating that shifting market fundamentals and looming shareholder resistance had rendered the transaction unattractive. The deal, which had been formalised through…
