The Government Employees Pension Fund (GEPF), represented by the Public Investment Corporation (PIC) has acquired a minority stake in Alzu Agri (PTY) Ltd.
This is according to the Competition Tribunal, which approved the transaction unconditionally as it ‘presented no public interest concerns.’
“In its assessment, the Commission found that the transaction is unlikely to substantially prevent or lessen competition in any relevant market” it stated.
Alzu Agri is a key player in the agricultural sector with vast interests in maize production, animal feed, pig and livestock breeding. It is unclear whether the transaction was for a stake in the entire Alzu Agriculture Group or two of its subsidiaries.
Competition Tribunal said the GEPF will enjoy a stake in two Alzu Agriculture subsidiaries which produce feed for various livestock, poultry and game for the general public.
Post-merger, the Alzu Agri will be jointly controlled by Du Toit Zoe 8 and the GEPF raising speculation that the share was more than communicated.
GEPF and Alzu Agri could not be reached for comment at the time of going online.