[2007-10-19]  Zambeef still in talks over Amanita takeover
ZAMBEEF Products Plc and Amanita Group of Companies are still negotiating terms of the final takeover of Amanita Premier Oils Zambia Limited and its milling plant.

This follows the Zambia Competition Commission (ZCC) approval of the takeover bid.

Zambeef Products Plc spokesperson, Justo Kopulande, who could not give a time-table for the negotiations, only said transactions would go ahead.

“We have not yet concluded the negotiations to buy-off the oil and milling plants.

We are still in the process of negotiating,” he said.

He said that the first step of notifying the ZCC on their intentions had been done and had since been approved.

“The first thing to do was to get the necessary permission and has since been granted to go ahead,” he said.

Mr Kopulande said once Zambeef tookover the two entities, the growing of sunflower in the country would be increased.

He urged the country to support the take-over transactions.

When contacted for a comment, Amanita Group of Companies managing director, Diego Casilli, was reportedly out of the country.

Last month, ZCC issued a statement announcing the approval to takeover the two entities because of the gloomy financial position the two entities are facing.

ZCC executive director, George Lipimile, said the board was concerned over the manufacturing decline at Amanita over the years.

Mr Lipimile, however, said that the board was optimistic that the goodwill that Zambeef has with financial institutions would turn around the dismal financial performance at Amanita into an economically viable industry.

“The board has noted that Amanita was a ‘sleeping giant’ that like Zambeef, could stamp its authority on Zambian entrepreneurship if operated with a strategic vision,” he said.


Source: © 2005 Zambia Daily Mail.