Bidvest lifts Adcock stake to 9%

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BidvestJoffe Independent Media. Bidvest chief executive Brian Joffe. Photo: Leon Nicholas.

Johannesburg - South African conglomerate Bidvest Group has increased its stake in drugmaker Adcock Ingram to 9 percent, Bidvest chief executive Brian Joffe told Reuters on Thursday.

Bidvest, which has steadily raised its Adcock holding in an attempt to thwart a rival takeover offer from Chile's CFR Pharmaceuticals, said in December it had around 7 percent. - Reuters

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