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Anglo, aquarius, zimplats Zimbabwe to probe contracts

February 15 2013 at 08:00am
By Bloomberg

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Zimbabwe deals agreed by Aquarius Platinum, Anglo American and Zimplats Holdings to meet state demands in which they sold assets to locals would be probed, Finance Minister Tendai Biti said yesterday. Biti’s Movement for Democratic Change disagrees with the government’s decision to force foreign- or white-owned firms to sell or cede 51 percent of local assets to black people or to the government. Deals that might cost the country money needed to be approved by parliament, Biti said. Firms such as Innscor Africa, owned mainly by white Zimbabweans, have been forced to offload majority stakes under the indigenisation law.

– Bloomberg


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