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…