Zimbabwe regulator probes Varun’s proposed 48.79% Dairibord acquisition

HARARE — Zimbabwe’s competition regulator has launched an investigation into a proposed acquisition of a 48.79% stake in Dairibord Holdings Ltd. by Varun Beverages Holding Zimbabwe.

The Competition and Tariff Commission announced the investigation in the Government Gazette published Thursday.

Dairibord is listed on the Zimbabwe Stock Exchange and manufactures and distributes dairy products, beverages and food products.

Varun produces carbonated soft drinks, energy drinks, water and snacks.

The commission said it was investigating whether the proposed transaction could substantially reduce competition in Zimbabwe or create a monopoly situation contrary to the public interest.

The investigation will also examine how the companies and other players currently operate in the market and how the merged businesses would operate if the transaction is approved.

The commission invited interested stakeholders and members of the public to submit written representations explaining how they could be affected by the transaction.

Submissions are due by Oct. 1.

The proposed acquisition would give Varun a significant interest in one of Zimbabwe’s largest dairy and beverage manufacturers.

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