Zimbabwe: JSE Giant Revives Bid for Olivine

Harare — Johannesburg Stock Exchange (JSE)-listed food and detergents manufacturer, Sunoil Refineries, has revived a US$10 million bid for Zimbabwean food producer, Olivine Industries.

Discussions, which revolved around a possible takeover of Olivine by Sunoil, dramatically collapsed last year after key shareholder, AICO Africa Limited, rejected the South African company's offer, declaring its 49 percent stake in the business was not for sale.

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