Share

Brimstone to exit SA dairy deal on anti-Israel pressure

The Brimstone Investment Corporation will exit a deal led by an Israeli company to buy South Africa’s biggest dairy producer after protests by a pro-Palestinian activist group.

The investment-holding firm is in “advanced talks” with a replacement shareholder that could see it exiting its entire shareholding in Milco SA - the entity that has offered R4.8bn deal to buy Clover Industries - by the end of the year, it said in a statement Friday.

The Central Bottling Company, based in Tel Aviv, is leading the transaction along and is the biggest shareholder in Milco. A CBC unit will buy Brimstone’s interest on December 31, if it hasn’t found an alternative investor by then, the South African company said.

The ANC had close ties to the Palestine Liberation Organization during the apartheid era and Israeli interests are frequently the target of protests in South Africa. Brimstone says on its website that it has “impeccable empowerment credentials and a values-driven corporate identity".

The deal was opposed by Boycott Divestment Sanctions South Africa, a group with a history of anti-Israel activity. “We will actively initiate, support and/or join the call for direct action and a militant but peaceful campaign,” the organisation said. That will include “protests and disruptions against Clover and a boycott of all of its products.”

BDSSA in 2014 led calls for a boycott of Woolworths because of its sale of figs, pretzels and pomegranates imported from Israel. Woolworths said at the time that some of its customers and staff had been intimidated during protests inside its stores and pig heads were left in some outlets.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.98
-0.2%
Rand - Pound
24.06
+0.2%
Rand - Euro
20.58
+0.1%
Rand - Aus dollar
12.35
+0.6%
Rand - Yen
0.13
+0.7%
Platinum
902.95
+0.1%
Palladium
998.75
-0.7%
Gold
2,153.35
-0.3%
Silver
24.91
-0.6%
Brent Crude
86.89
+1.8%
Top 40
65,825
-0.6%
All Share
72,043
-0.5%
Resource 10
53,031
-0.5%
Industrial 25
99,434
-1.0%
Financial 15
16,625
+0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders