Brimstone meets with pro-Palestinian body over Clover buy out | Fin24
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Brimstone meets with pro-Palestinian body over Clover buy out

Feb 07 2019 17:33

Palestine solidarity organisation BDS South Africa said it had a "positive and productive meeting" with Brimstone over its proposed multi-billion rand buy out of Clover.

In a statement, BDS said, "BDS South Africa welcomes the initiative taken by Brimstone to call an emergency board meeting in which the proactive decision to review its role in the proposed Clover transaction based on their values was made.

"BDS South Africa believes that South African companies are attractive investment opportunities for global investors and that there will be many alternative investors who are not tainted by the violation of international law and human rights."

Earlier, Fin24 reported that Brimstone said it would review its plans in relation to Clover following protests by BDS and planned calls to boycott Clover products.

Clover shares plunged as much as 9.8% at the time, erasing part of the gains made when the deal was announced three days ago.

“We have taken note of the widespread outrage in respect of Brimstone’s participation in the proposed purchase,” the black-owned South African company said.

The country’s ruling ANC had close ties to the Palestine Liberation Organisation during the apartheid era and Israeli interests are frequently the target of protests in South Africa.

Brimstone is part of the bidding group led by Tel Aviv-based Central Bottling.

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