South Africa's Tiger Brands sells entire stake in Ethiopian business - CNBC Africa

South Africa's Tiger Brands sells entire stake in Ethiopian business

East Africa

by Reuters 0

South Africa's Tiger Brands sells entire stake in Ethiopian business. Photo: Flickr.

South African food producer Tiger Brands said on Thursday it has sold its 51 percent stake in an Ethiopian business for an undisclosed sum to the other shareholder in the venture.

"The Board of Directors of Tiger Brands has decided to dispose of the company’s 51 percent stake in its Ethiopian business, EATBI, to its partner EAG, which holds the remaining 49 percent," Tiger Brands said in a statement.

 

(Reporting by TJ Strydom; Editing by James Macharia)

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