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Browsing: Innscor
Post the Restructure, in January 2018, Probrands disposed of its dairy assets to a newly incorporated company, Prodairy, a dairy and dairy products processor.”
The company has a long history of brushes with the law.
In 2013 Innscor Africa Limited was fined US$ 60 million for not following the proper procedures in its acquisition of majority shareholding in National Foods Limited in 2013. The CTC, after conduction investigations on the transaction, found that Innscor acted against regulations when it purchased a majority interest in National Foods.
Innscor Africa Limited as in its most recent run-in with CTC did not notify them of their intention to acquire a majority stake in National Foods Limited which is a contravention of the Competition Act.