Johannesburg - Agricultural group Afgri [JSE:AFR] announced
on Tuesday that it is in negotiations with Pride Milling to acquire Pride's
yellow maize milling business.
The proposed deal would be conducted via Afgri's subsidiary
The transaction would strengthen Afgri's industrial food
processing capability, in line with its strategy to expand further into the
food industry, the company said.
As the proposed transaction might have a material effect on
the price of Afgri's shares, shareholders were advised to exercise caution in
their share dealings.