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SOUTH AFRICAN
CANNABIS INDUSTRY
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Labat To Acquire IT Company for R16,75 million in a Paper Deal That Will Underwrite Group Liabilities
Cannabiz Africa
24/11/23, 08:00
JSE-listed Labat Africa is to acquire a 75,55% stake in IT company Classic International Trading in a paper deal worth R16,75 million. The purchase is contingent on Labat producing its outstanding financials, and if the JSE lifts the suspension of its shares, Classic will underwrite the group's liabilities going forward.
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