Investors accept Capitalworks bid

Investors holding 54.37% of poultry group Sovereign Food Investments’s shares voted in favour of the general offer by Capitalworks Private Equity to buy their shares at R12 each, Sovereign said on Tuesday. Capitalworks, through a special purpose vehicle called Bidco, made two offers for Sovereign shares, a scheme of arrangement and a general offer. Capitalworks has offered R12 in cash or a linked Bidco ordinary and preference share for each Sovereign share.