Rainbow Chicken Buys Stake in Zambian Broiler Business

by 5m Editor
12 February 2013, at 8:17am

ZAMBIA - Shares of Rainbow Chicken fell more than six per cent after the company said it will pay $14.25 million in cash for Zambian Zambeef's 49 per cent stake in Zam Chick.

Zambeef is a major player in Zambia's agri-business market and Zam Chick manages and operates its chicken broiler business, reports MoneyWeb.

Rainbow Chicken shares are down 3.06 per cent at R15.53 at 09h44 after earlier falling more than 6 per cent to a low of R15.