Karan Beef and PIC deal to go ahead despite collusion fine

SOUTH AFRICA – The Competition Commission has said that Karan Beef’s collusion fine may unlikely affect its buyout deal with the Public Investment Corporation (PIC), reports Business Day. “In no way does this investigation into Karan Beef and the fine affect the PIC’s deal with Karan Beef,” said David Maimela, the commission’s acting chief of…

PIC and Pelo agrees to buy Africa’s largest feedlot Karan Beef for US$365m

SOUTH AFRICA - The South African state owned entity, Public Investment Corp. and black-owned investment firm Pelo Agricultural Ventures have acquired a majority stake in Karan Beef, which operates the largest cattle feedlot and abattoir on the continent, reports IOL Business. According to Pelo Agricultural Ventures CEO, Aobakwe Kukama, Pelo will work with Karan’s existing…

SA management considers buying the largest African feedlot valued at US$450m

SOUTH AFRICA - The management of the largest cattle feedlot in the continent, Karan Beef (Pty) Ltd is planning to acquire part or all of the firm from its owner Ivor Karan in a deal that values it at US$450 million, according to people familiar with the matter. An article by Bloomberg revealed that Karan…