Cicada seeks to acquire Border Timbers

ONE of the country’s largest agricultural entities, Cicada Plantations Zimbabwe (CPZ) has offered to acquire 100% of the issued share capital of Border Timbers Limited (BTL), NewsDay Farming can report.

The firm simultaneously made an offer to acquire 100% of the issued share capital of Makandi Estates, a complementary agricultural concern, in exchange for its shares, BTL said in a cautionary statement yesterday.

“Shareholders of Border Timbers Limited and the investing public are advised that the company received an offer from Cicada Plantations Zimbabwe (Private) Limited, an agricultural entity, whereby CPZ seeks to acquire 100% of the issued share capital of BTL, and simultaneously make an offer to acquire 100% of the issued share capital of Makandi Estates (Private) Limited, a complementary agricultural concern, in exchange for CPZ shares,” partly read the BTL statement.

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