Zimbabwe Stock Exchange listed dairy producer, Dairibord Holdings Limited has discontinued the process to merge operations with fellow industry player Dendairy (Private) Limited.
In a statement, Dairibord has announced that both parties have agreed to discontinue the process of merging and remain as separate entities.
Last year in July, the company made a cautionary announcement to its shareholders about the merging process and since then the two entities have been exploring opportunities for creating sustainable shareholder value for mutual benefit.
“Shareholders are referred to the cautionary announcement first published on 1 July 2020 and are advised that the conclusion of the discussions indicates that it is in the interest of both parties to discontinue the process and remain as separate entities”.
“The contents of the cautionary have ceased to have any effect on the company. Accordingly, caution is no longer required to be exercised when dealing in company shares,” reads the recent cautionary announcement.
Dairibord is the largest producer of dairy products in Zimbabwe with a range of fresh milk, ready-to-drink and long life milk products.
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