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Total Produce Raises Stake in Capespan to 20%, Fin. Mail Says

Nov. 24 (Bloomberg) -- Total Produce Plc has raised its stake in Capespan Group Ltd., South Africa’s biggest fruit exporter, to 20 percent from 15 percent, Johannesburg’s Financial Mail reported, without saying where it got the information.

The increased stake may complicate attempts by rival bidders Zeder Investment Ltd. and Bidvest Group Ltd. to take control of the company, the weekly magazine said. Bidvest has built up a 7.9 percent stake in the company while Zeder has 40 percent, the magazine said.

South Africa is the world’s second-biggest citrus fruit exporter after Spain.

To contact the reporter on this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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