PIC welcomes Competition Tribunal’s approval of Alzu acquisition

South Africa – The Public Investment Corporation (PIC) welcomes the decision of the Competition Tribunal to approve its acquisition of 30% equity in Alzu Agri (Pty) Ltd (Alzu) on behalf of the Government Employees Pension Fund (GEPF).

Alzu is an integrated agricultural business, established in 1968 in Kwaggafontein in Middelburg.  The company specialises in pork production, pig genetics, maize production, various forms of animal feed, cattle farming, as well as production of caged and free range eggs. Alzu’s customer base includes successful blue-chip companies. Furthermore, the company operates over 20 depots across South Africa, where various animal feed, health and wellness products are sold to the broader public.

PIC Acting Chief Executive Officer, Vuyani Hako, said, “We are pleased with the Competition Tribunal’s approval, as it provides us with an opportunity to continue implementing our developmental investment mandate. This transaction has a number of benefits, which include the transformation of the agricultural sector, sustenance and creation of new job opportunities as well as ensuring food security in the country.”

The investment in Alzu is in line with the GEPF’s mandate of investing capital in return seeking projects with a high developmental impact in line with the GEPF’s developmental investment policy.

“The most important aspect of this transaction is that it assists our client’s efforts to diversify its investment portfolio. Diversification of the portfolio has shown to benefit clients, particularly where certain assets and industries may not do well for one or another reason,” said Hako.

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Farmers Review Africa
Farmers Review Africa