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Afgri plans to acquire Pride Milling

Mar 01 2011 16:04
I-Net Bridge

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 AOL.

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.

afgri  |  maize


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