Shareholders of Tiger Brands on Thursday approved resolutions that will give rise to the separate listing and unbundling of Adcock Ingram Holdings.
Tiger Brands said on Monday it had reached agreement to sell 50% plus one share of its unit Adcock Ingram Critical Care to Baxter Healthcare.
South African consumer foods and healthcare products group Tiger Brands plans to sell an additional 10% to black-economic empowerment (BEE) investors after the completion of the unbundling of its healthcare products unit, it said on Tuesday. "Post-unbundling, an additional broad-based equity deal of approximately 10% will be implemented," CEO Peter Matlare said.
Tiger Brands is starting a company-wide review to ensure there is no more anti-competitive behaviour after cartels in the healthcare and bread and milling sectors were recently exposed, CEO Peter Matlare said on Friday. ”We are cleaning house. We are going door-to-door and cupboard-to-cupboard,” Matlare told reporters in Johannesburg.
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/ 12 February 2008
Tiger Brands has appointed Peter Matlare as its new CEO from April 1, the company announced on Tuesday. ”We believe he will bring a diverse set of skills and leadership abilities to Tiger Brands,” Tiger Brands’s non-executive chairperson Lex van Vught said in a statement.
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/ 28 November 2007
The R98,7-million penalty imposed on Tiger Brands was too lenient, the Congress of South African Trade Unions said on Wednesday at a Competition Tribunal hearing in Pretoria. ”Bread in particular is a diet of the poorest and it is appalling that people should enrich themselves by robbing the poor,” it said.
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/ 12 November 2007
Tiger Brands has been ordered to pay a R98,7-million penalty by the Competition Commission after admitting to participating in bread and milling cartels, the commission announced on Monday. Tiger Brands also agreed to assist the commission in prosecuting remaining cartel members who have not cooperated with the commission.
The board of Tiger Brands on Friday announced it is evaluating all options with regards to the separation of the company’s healthcare interests, which operate under the name of Adcock Ingram. These options include the potential sale, or unbundling and separate listing of the pharmaceutical and hospital products businesses.
Tiger Brands and Nestle announced on Wednesday that an agreement in principle has been reached for the acquisition by Tiger Brands of the sugar confectionery portfolio of Nestle in South Africa. The sugar confectionery portfolio of Nestle includes such well-known brands as "Jelly Tots" and "Wilson’s".
South African-listed food and pharmaceuticals group Tiger Brands has entered into an agreement to acquire Bromor Foods from Cadbury Schweppes for R1,16-billion, it said on Tuesday. Bromor is a non-carbonated soft-drink company and has a turnover of around R850-million per year.