Craven House Capital has acquired a 49% stake in three agribusinesses in sub-Saharan Africa for a total consideration of C$1.96 million. The stake was acquired from EmVest Asset Management which is a diversified investment company operating across three countries of sub-Saharan Africa through the food production chain. EmVest shareholders have agreed to subscribe for 94,322,598 new ordinary shares in the business approximately equal to C$1.96 million. The three companies which Craven House acquired are EmVest Barvale Pty, Ltd., a vegetable and cattle operation, EmVest Evergreen Pty, Ltd., a producer of dehydrated vegetables, and EmVest Foods Pty, Ltd. which markets and distributes fresh fruits and vegetables in southern Africa.
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