Astral Foods Sells Minority Interest in Quantum Foods

South Africa's largest integrated poultry producer, Astral Foods, has sold its 9.8% interest in Quantum Foods to Country Bird Holdings (CBH) for ZAR 141.7 million (approximately $7.6 million), effective from 5 March.

Chris Schutte, CEO of Astral, expressed that the unsolicited offer from CBH was welcome, as it was never intended to be a long-term investment.

He also stated in the same announcement: “At the time Astral acquired the 9.8% equity stake in Quantum during June 2020, there were unmitigated risks the...

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