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Historic Investments  // Browsing posts in Historic Investments

CLOVER RESTRUCTURING WILL GIVE FARMERS MORE POWER

On the heels of a recent vote by Clover shareholders to proceed with a far-reaching restructuring of the company’s share structure. Clover Industries Limited (CIL) chairperson John Bredin has revealed plans to ensure producers maintain their grip on the company. ‘I remain totally convinced that this transaction has ensured a prosperous future for dairy farmers.’ […]

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11 Jun 2010 Historic Investments

CONTROVERSIAL CLOVER RESTRUCTURING GOES AHEAD

Clover shareholders have given the thumbs up to Clover’s controversial proposal to sell over 9 million ordinary shares to top management and provide them with loans to buy the shares and refinance existing debt. They also approved the repurchase of all the ordinary Clover shares held by BEE partner Hosken Consolidated Investments (HCI) and its […]

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HCI – 35% STAKE IN CLOVER SOLD FOR R337M

The sale of Hosken Consolidated Investments’ (HCI’s) 35 percent stake in Clover Industries, South Africa’s biggest milk producer, for R337 million had been concluded, the empowerment group announced at the weekend. Analysts believe the relationship between HCI and Clover soured over a lack of restructuring at the latter. HCI owns preference and ordinary shares, both […]

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16 Mar 2010 Historic Investments

SALE OF SOURED STAKE IN CLOVER OPENS DOOR FOR HCI

EMPOWERMENT group Hosken Consolidated Investments (HCI) could use the cash it receives from the sale of its 35 percent stake in milk producer Clover Industries to increase its gaming interests. Rob Forsyth, the head of industrial snares at Investec Asset Management, said gaming interests constituted the largest proportion of HCI’s portfolio. HCI owns 74.7 percent […]

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15 Mar 2010 Historic Investments

HCI SELLS CLOVER STAKE

CLOVER HAS AGREED TO BUY BACK THE STAKE South Africa’s Hosken Consolidated Investments (JSE:HCI) Ltd plans to sell its 35 percent stake in dairy producer Clover Industries Limited for 337.4 million rand, it said on Monday. HCI, which owns stakes in gaming group Tsogo Sun and free-to-air television channel e-TV, will sell the stake back […]

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12 Mar 2010 Historic Investments

HCI TO SELL 35% STAKE BACK TO CLOVER

INVESTMENT: Hosken Consolidated Investments (HCI) will sell 35% of Clover Industries, SA’s biggest milk producer, back to Clover for R337,4m. HCI, a local investment company, “believes it would be opportune to realise its investment”, the company said yesterday in a regulatory filing with the JSE. HCI paid R92m for 25% of Clover in 2005, and […]

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18 Feb 2010 Historic Investments

BEEN THERE…DANONE THAT

CLOVER GETS THE CREAM FROM JOINT VENTURE SALE Last year in June we reported dairy group Clover’s black empowerment deal with Hosken Consolidated Investments (HCI) was in jeopardy because of an inability to reach agreement over the best way to re-capitalise the company. HCI, which would no doubt be happy to trade fresh capital for […]

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11 Jun 2009 Historic Investments

DEAL STARTS TO SOUR

HCI frustrated at stalling of urgent capitalisation plans The relationship between empowerment group Hosken Consolidated Investments (HCI) and dairy giant Clover Industries has soured to the point that the original black empowerment deal looks in jeopardy. HCI holds a 34,9% stake in Clover, an arrangement that market watchers believed would give the empowerment group a […]

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29 Apr 2009 Historic Investments

CLOVER EMPLOYEES VICTORIOUS

Amid difficult economic conditions, the trade union Solidarity clinched victory in the consultation process for the planned retrenchment of more than 90 Clover employees at the company’s cheese factory in Wesselsbron. Solidarity received a Section 189 notice early in March regarding the planned retrenchments at the branch which will be closing its doors shortly. According […]

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13 Mar 2009 Historic Investments

JOBS IN PERIL AT CLOVER – SOLIDARITY

More than 90 jobs are in peril as dairy company Clover plans to close down its Wesselsbron cheese factory, the trade union Solidarity said on Wednesday, 11 March 2009. Clover plans to close the factory by 31 May, according to the union. It said that this followed the Section 189 notice Clover issued this week, […]

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