Choppies exits Zimbabwe market in $260,000 deal
Choppies Enterprises Limited (JSE:CHP) announced the disposal of its Zimbabwe business to Pintail Trading (Private) Limited for a consideration of USD260,000, equivalent to approximately BWP 3.75 million. The transaction, deemed uncategorised under Botswana Stock Exchange (BSE) listing requirements, is a voluntary announcement. Choppies stated that exiting Zimbabwe aligns with its strategic intent to focus on more profitable regions, as further investment in the Zimbabwean operations was deemed economically unviable. The company confirmed that all necessary approvals from the Competition Authority of Zimbabwe have been obtained, and the deal is now complete. The announcement also signals the withdrawal of the cautionary statement issued on February 26, 2025, as the details of the sale are now public.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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