Johannesburg - Shares of Rainbow Chicken [JSE:RBW] fell more than 6% after the company said it would pay $14.25m in cash for Zambian Zambeef's 49% stake in Zam Chick.
Zambeef is a major player in Zambia's agri-business market and Zam Chick manages and operates its chicken broiler business.
Rainbow Chicken shares were down 3.06% at R15.53 at 07:44 GMT after earlier falling more than 6% to a low of R15.