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South Africa’s Tiger Brands drops bid for Kenyan miller
A woman shops for flour at a Nyeri town supermarket. Tiger Brands is keen on the flour milling sector. Photo/FILE
South Africa’s Tiger Brands has ditched its bid to acquire a Kenyan flour miller and bakery for Sh2.1 billion following sharp differences on the valuation of the business.
The Johannesburg Stock Exchange-listed firm pulled the plug on the Rafiki Millers and Magic Oven Bakeries buyout a month after the competition watchdog cleared the takeover.
