• Choppies Enterprises in negotiations for a 76% controlling stake in the Kamoso Group
• Renewed cautionary statement issued as negotiations progress
• Conditional approval received from Botswana Competition and Consumer Authority

Choppies Enterprises Limited, a renowned Botswana-based company operating in the retail sector, has announced its ongoing negotiations to acquire a controlling stake of 76% in the Kamoso Group, a prominent player in the fast-moving consumer goods industry. The announcement comes as Choppies renews its cautionary statement, in compliance with the Listings Requirements of the Botswana Stock Exchange (BSE), regarding the potential material impact on the company’s financial results.

Choppies, which had initially been negotiating for the acquisition of 100% of the Kamoso Group shares, has now shifted its focus to securing a majority stake. The company aims to solidify its position and expand its market presence in the consumer goods sector. The decision to pursue this strategic investment aligns with Choppies’ long-term growth objectives and commitment to enhancing shareholder value.

The negotiation process has reached a significant milestone as Choppies has received conditional approval from the Botswana Competition and Consumer Authority. This endorsement is a crucial step towards realizing the acquisition. However, shareholders are strongly advised to exercise caution when trading their Choppies shares until further announcements are made. The outcome of the ongoing negotiations could have a notable influence on the company’s financial performance in the upcoming reporting period.

Choppies Enterprises Limited, with its primary listing on the BSE and secondary listing on the JSE Limited, remains committed to navigating the intricacies of this potential acquisition. The company’s management and board of directors are actively engaged in discussions with the Kamoso Group, aiming to finalize the deal in the best interest of all stakeholders involved.

Market analysts and investors are eagerly monitoring the progress of these negotiations, anticipating the potential impact on Choppies and the wider consumer goods sector. The successful acquisition of a controlling stake in the Kamoso Group would bolster Choppies’ competitive position, enabling it to tap into new markets and leverage synergies between the two entities.