Filomena Scalise

Shares of Tiger Brands rose 2.4 percent to R261.62, extending gains after a 2 percent in the previous session, and leading gainers on Johannesburg's blue-chip index.

Tiger Brands reported after Wednesday's market close that it had reached an in principle agreement to acquire a 63.35 percent stake in Nigerian flour and pasta maker Dangote.

Tiger's shares are up 2.4 percent at R261.64, compared with the a 0.44 percent gain by the Top-40 index. -Reuters