Zimbabwe Regulator to Investigate Murray & Roberts Zimbabwe Sale
“We’re probing that deal following complaints from some minority shareholders, brokers and foreign investors,” Chinamho said in a phone interview from Harare today.
Zumbani Capital bought 47 percent of Murray & Roberts Zimbabwe for 1.47 U.S. cents a share, 79 percent less than the last traded price of 7 cents.
Zumbani Capital is owned by Zimbabwean investors including the current chairman and the previous chief executive officer of Murray & Roberts Zimbabwe, Ed Jardim, a spokesman for Murray & Roberts Holdings Ltd. (MUR), said in an e-mailed response to questions on May 3. Murray & Roberts Zimbabwe is a unit of Murray & Roberts Holdings.
Paddy Zhanda, former Murray & Roberts Zimbabwe chairman, and Canada Malunga, the company’s chief executive officer acquired a “significant stake” in the company, alongside closely held South African company Carlmac Steel and Brait SE (BAT), the Zimbabwe Independent said May 10.
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