Services, trading and distribution group Bidvest has increased its stake in pharmaceutical firm Adcock Ingram to above 50%.replacing the management team and restructuring its operations, Bidvest said in 2018Bidvest CEO Lindsay Ralphs said in September 2018 the group wanted to sell its stake to black investors, but a lack of finance for prospective buyers was holding up potential deals.
In a regulatory filing on Tuesday, Adcock said Bidvest’s BB Investment Company had raised its stake in the healthcare company’s ordinary shares to 51.1%. Adcock said it"filed the required notices" with the department of trade and industry’s takeover regulation panel.Adcock’s shres were 2.5% up at R58.40 on Tuesday morning. Bidvest was 2.6% up at R183.13.
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