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Rainbow Chicken buys stake in Zam Chick

Feb 04 2013 11:19 Reuters


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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.  

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