HARARE — Dairibord Holdings Limited has issued a new cautionary statement to shareholders and the investing public, advising of advanced corporate activity that could result in a change of ownership and a migration of the company’s listing.
In a notice released this week, the dairy processor said three of its significant shareholders, Equivest Asset Management, Mega Market, and Mutare Mart and Exchange, have jointly filed a merger notification with the Competition and Tariff Commission.
The filing relates to the proposed disposal of their combined shareholding in Dairibord to a third party. The parties are now awaiting regulatory review and approval before any transaction can be concluded.
In the same update, Dairibord confirmed that plans for a voluntary delisting from the Zimbabwe Stock Exchange and a subsequent listing on the Victoria Falls Stock Exchange remain in progress.
“The proposed voluntary delisting followed by listing on VFEX is ongoing. Further details regarding the migration will be communicated to shareholders in due course,” the company said.
A move to VFEX would place Dairibord among a growing number of Zimbabwean companies seeking to tap into the foreign currency-denominated bourse, which offers benefits such as tax incentives and easier dividend repatriation.
The cautionary comes amid heightened market speculation about Dairibord’s future ownership. Industry sources indicate that interest in the business has been expressed by major players in the beverages sector, including Varun Beverages and Delta Corporation.
No formal offer has been announced by either party, and Dairibord said discussions, if any, remain subject to due diligence and regulatory approvals.
Dairibord Holdings is one of Zimbabwe’s largest dairy and food manufacturers, with a portfolio that includes milk, yoghurt, iced teas, and juices. Any change in shareholding is expected to have implications for the company’s strategy, supply chains, and investment plans.
The Board urged shareholders and potential investors to exercise caution when dealing in Dairibord shares until full details of the transactions are made public.
A further update will be issued once the Competition and Tariff Commission has considered the merger notification and once the company has finalized details of the proposed VFEX migration.
