HARARE - Three shareholders with a combined stake of 51% in Dairibord Holdings Limited have reportedly entered negotiations with an unnamed third party for sale of their shares in Zimbabwe's largest dairy and beverages group, the company said in a cautionary statement released at the weekend.
Equivest Asset Management (Pvt) Ltd, Mega Market (Pvt) Ltd and Mutare Mart & Exchange (Pvt) Ltd jointly notified the Dairibord that their combined shareholding exceeds 51% of the company's issued ordinary shares, meaning any successful buyer would gain effective control of the Zimbabwe Stock Exchange-listed company.
The board said the transaction, if concluded, could have a material effect on the market price of the company's shares, and urged shareholders and the investing public to exercise caution when dealing in Dairibord stock until further notice.
The cautionary statement did not identify the prospective buyer, proposed purchase price, or whether negotiations are exclusive.
Last month, Dairibord diaclosed that its board had approved the voluntary delisting of the company from the Zimbabwe Stock Exchange, immediately followed by a listing on the US dollar-denominated Victoria Falls Stock Exchange (VFEX).
It remains unclear whether the two transactions are linked or whether the prospective controlling-stake acquisition is being pursued independently of the planned exchange migration.
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In its trading update, Dairibord said it was trailing a 12-month revenue of US$137 million as at December 31， 2025.
Dairibord's current profit margins stand at 1.4%, down from 4.2% the prior year, adding commercial urgency to the structural changes now under way at the company.