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Labat Africa sells cannabis healthcare business to CEO and director
The Star
|November 17, 2025
LABAT Africa's share price ended 20% higher on the JSE on Friday after it announced that it is selling its cannabis healthcare sector businesses to its CEO and a director.
LABAT CEO and co-founder Brian van Rooyen.
(SUPPLIED)
Labat had first announced its intention to enter the cannabis industry in November 2019, which at the time was a novel business on the JSE, as cannabis had previously been illegal in South Africa, barring limited medical uses.
The company announced on Friday that All Trading Proprietary, a company beneficially owned by Labat's CEO Brian Van Rooyen, plans to buy all of Labat's cannabis-related subsidiaries and operating divisions.
Earlier this year, the company had announced that it was in talks with All Trading, a related party to the company, regarding the disposal of some of Labat's subsidiaries.
However, on October 23, the company advised that these talks had been terminated, and a "binding agreement" had been entered into with 64P Investments Proprietary for the purchase of all the cannabis-related subsidiaries and operating divisions in the Labat Group.
यह कहानी The Star के November 17, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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