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Concerns Raised after Clover Receives 60% Buyout Offer from Israeli Company

Feb 05, 2019

 

Faizel Patel, Radio Islam News – 05-02-2019

(Twitter: @FaizelPatel143)

 

Concerns have been raised by Boycott Divestment Sanction South Africa (BDS SA) after dairy and drinks producer Clover received a R 4.8 billion buyout offer from investors led by an Israeli company.

It’s understood Israel’s Central Bottling Company (CBC) offered R 25 a share for Clover giving a boost to President Cyril Ramaphosa’s effort to lure foreign investment to the country.

Ramaphosa has made it clear since he took over the presidency 12 months ago that international investment is a centerpiece of his plans to revive the economy.

BDS South Africa says while Israeli companies are known to share false information, it will be investigating the authenticity of the reports that CBC will be acquiring a 60% stake in Clover.

“If this is indeed true, then it’s highly problematic. CBC is a company that’s deeply complicit in the Israeli settlement industry, an industry that’s in violation of international law and so this company will come under the target of the BDS movement together with our partners and the unions and other civil society structures.”

Other investment partners in Clover include Brimstone Investment, a South African investment firm whose CEO is Mustaq Brey.

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