PROVEN– 50.5% Share Acquisition of Roberts Mfg. Co. Ltd. from Massy Properties (Barbados) Ltd

• Proven Investments Limited (PROVEN) has advised that the Company has entered into an Agreement for Sale and Purchase of Shares on December 30, 2020, to acquire 50.5% of the common equity of Roberts Manufacturing Co. Limited (RMCL) from Massy Properties (Barbados) Limited (MPBL) for a consideration of US$21,452,500.00.
• PROVEN further advised that “RMCL, located in Barbados, operates from a 21-acre industrial complex consisting of large manufacturing plants producing a variety of margarine, shortening, soya bean oils and animal feed products which are distributed to over 15 markets regionally and internationally.
• “The proposed acquisition of the majority shareholding of RMCL from MPBL is aligned with PROVEN’s strategy to grow through acquisition in the real sector throughout the Caribbean and Latin American regions with a view to creating value to its shareholders.”

(Source: JSE)