Zambeef completes majority stake sale of Zampalm to IDC

ZAMBIA - Zambeef Products Plc has announced that it has completed the sale of its majority stake in its wholly owned subsidiary and oil producer, Zampalm Ltd to the Industrial Development Corporation of Zambia Limited (IDC) for US$16 million in cash. Zampalm Ltd was incorporated in 2009, has some 409,506 palms planted on its plantation, supplies…