Deals
Adcock Names Bidvest Travel and Aviation Head Wakeford as CEO
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Adcock Ingram Holdings Ltd., South Africa’s biggest maker of hospital products, appointed Bidvest Group Ltd.’s Kevin Wakeford as chief executive officer after naming the same company’s CEO as its chairman.
The appointments follow a 10-month fight for control of Adcock between Johannesburg-based Bidvest and Chilean drugmaker CFR Pharmaceuticals SA. CFR called off its 12.8 billion rand ($1.2 billion) cash and stock offer on Feb. 7 after Bidvest built a 34.5 percent stake that enabled it to block the bid. Bidvest CEO Brian Joffe was named Adcock chairman on Feb. 26.