HCI to Buy KWV Stake for Less Than Pioneer Bid, Bus. Report Says

Hosken Consolidated Investments Ltd. may buy a 34.9 percent stake in KWV Holdings Ltd. for 11.80 rand a share, less than an aborted 12 rand a share offer from Pioneer Food Group Ltd., Business Report said, without saying where it got the information.

HCI is set to buy the shares from Zeder Investments Ltd., the Johannesburg-based newspaper said. HCI Chairman Marcel Golding declined to comment while KWV Chairman Thys du Toit said he knew nothing about a transaction, Business Report said.