Pioneer Corp.’s Unifreight Purchase Delayed, Newsday Reports

Pioneer Corp. (6773) Africa Ltd.’s decision to buy Unifreight Zimbabwe (Pvt) Ltd. has been delayed by Zimbabwe’s Indigenization Ministry, Newsday said, citing unidentified government officials and Pioneer Chairman Patrick Chingoka.

The deal has been approved by Zimbabwe’s Competition and Tariff Commission, Harare-based Newsday said. Pioneer agreed to pay $7.2 million for Unifreight, the newspaper said.

The transport company is in talks with the Indigenization Ministry, said Newsday.

Pioneer owns freight and passenger transport companies in Zimbabwe, South Africa and Botswana, Newsday said.

To contact the reporter on this story: Brian Latham in Johannesburg at blatham@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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