Oa­sis sells Adcock stake to block deal

Weekend Argus (Saturday Edition) - - BUSINESS -

SOUTH Africa’s Oa­sis Group Hold­ings sold all of its roughly 2.2 per­cent stake in Adcock In­gram on the mar­ket yes­ter­day, a spokesman said, back­ing Bid­vest’s at­tempt to block a takeover by a Chilean firm. CFR Phar­ma­ceu­ti­cals has of­fered $1.2 bil­lion (R12.6bn) for all of Adcock. Bid­vest has coun­tered by of­fer­ing cash for about a third of the value of Adcock, which would give it a big enough stake to vote down the deal.

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