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Tiger Brands buys Barry Callebaut's Chococam stake

Thu Jul 24, 2008 12:00pm EDT

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JOHANNESBURG, July 24 (Reuters) - South African food and healthcare company Tiger Brands (TBSJ.J) said on Thursday it had acquired a 74.4 percent stake in Cameroon chocolate manufacturer Chococam.

"This acquisition gives impetus to our strategy to expand our African footprint," Tiger Brands Chief Executive Peter Matlare said in a statement.

The transaction is expected to close on July 31.

Tiger Brands, which bought the stake from chocolate manufacturer Barry Callebaut (BARN.S), said it will take over the entire business.

The rest of the shares are held by a number of small private investors.



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