The document, which is dated April 8, 2019 reads: “Extract of minutes of a board meeting held at Harare, Zimbabwe on Monday, 8 April 2019. It was agreed that after the acquisition of the Cold Storage Company Zimbabwe and its subsidiary Wetblue Industries Pvt Ltd by Boustead Beef Zimbabwe Pvt Ltd, that the subsidiary be removed from judicial management”.
The document, which is dated April 8, 2019 reads: “Extract of minutes of a board meeting held at Harare, Zimbabwe on Monday, 8 April 2019. It was agreed that after the acquisition of the Cold Storage Company Zimbabwe and its subsidiary Wetblue Industries Pvt Ltd by Boustead Beef Zimbabwe Pvt Ltd, that the subsidiary be removed from judicial management”.
The LJFCA deal empowered Boustead Beef to assume control of CSC’s ranches and meat processing facilities across the country, along with managing distribution centres and residential properties in Harare, Gweru and Mutare for a period of 25 years.
The LJFCA deal empowered Boustead Beef to assume control of CSC’s ranches and meat processing facilities across the country, along with managing distribution centres and residential properties in Harare, Gweru and Mutare for a period of 25 years.
Investigations by The Standard have revealed that, due to these squabbles, some tenants leasing CSC properties are not paying rentals, resulting in a serious loss of revenue that could otherwise be used to pay off creditors and help to turn around the company.
Investigations by The Standard have revealed that, due to these squabbles, some tenants leasing CSC properties are not paying rentals, resulting in a serious loss of revenue that could otherwise be used to pay off creditors and help to turn around the company.