Clover Industries’ return to producing custard and yoghurt and a potential takeover is boosting the allure of South Africa’s biggest dairy processor, according to Investec Asset Management. The stock rallied almost 18 percent this quarter, the second-best performer among 165 securities on the FTSE/JSE Africa all share index, which rose 1.4 percent. Clover is in talks that may affect the value of its shares, the company, based in Roodepoort, said on July 16, without giving details.
The company plans to open plants in Nigeria and Angola once volumes increase in the continent’s top oil producers. – Bloomberg