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Nampak Zimbabwe sells majority stake to TSL amid challenging economic conditions
The Star
|April 10, 2025
NAMPAK has concluded agreements for the disposale of its Zimbabwean unit with the transaction now subject to suspensive conditions.
Through Nampak Southern Africa, the South African packaging manufacturer is disposing of Nampak Zimbabwe to TSL, a Harare-based logistics and processing company.
"Regarding the proposed disposal of a 51.43% shareholding in the Company by Nampak Southern Africa Holdings Limited, shareholders and the investing public are advised that the seller and TSL Limited have concluded a sale and purchase agreement in respect of the sale, which agreement remains subject to various suspensive conditions," Nampak Zimbabwe said on Wednesday.
It is expected that Nampak Zimbabwe will make an announcement of the complete disposal in the next few weeks. TSL is acquiring Nampak Zimbabwe for a purchase consideration of $25 million.
In compliance with the Companies and Other Business Entities Act and the Zimbabwe Stock Exchange Listings Rules, TSL is required to make an offer to the remaining shareholders of Nampak Zimbabwe.
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