January 16, 2014 / 10:41 AM / 4 years ago

S.Africa's Bidvest lifts Adcock stake to 9 pct -Bidvest CEO

JOHANNESBURG, Jan 16 (Reuters) - 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. (Reporting by David Dolan; Editing by Pascal Fletcher)

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