Ariston holdings is a diversified agro-industrial concern, listed on the Zimbabwe Stock Exchange. In a statement, it has declared it is now in the process of seeking approval from regulatory authorities for the sale of 50% of its Claremont Orchards Holdings (Private) Limited to Dutch company Tuinbouw Zonder Grenzen B.V.
This was reviewed in a further cautionary statement issued by the company on Monday (30 August). The company says it intends to use the cash obtained from the 50% share selloff to further expand their macadamia and avocado orchard enterprise, in a bid to grow their export market.
As such, the company has advised shareholders to continue exercising caution in dealing with their shares as the transaction might have a material impact on the company’s share price.
Claremont is one of the country’s biggest producers of stone fruit as well as pome fruits such as apples, while the Netherlands is one of the countries that is most heavily invested in importing avocados from Zimbabwe.