No foreign buyout of local firms has ever resulted in such high workers’ equity, says trade & industry minister
US multinational PepsiCo’s R26bn purchase of Pioneer Foods is proof that SA can attract foreign direct investment while ensuring workers are given greater ownership of the economy, trade & industry minister Ebrahim Patel said on Sunday.
The finalisation of the transaction launched in July 2019 comes as the local economy tipped into recession.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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