TSL Limited and Nampak Zimbabwe Limited have officially announced the termination of their proposed transaction for the disposal of Nampak Zimbabwe to TSL Limited.
Both companies issued formal notices on 16 September 2025, advising shareholders and the investing public that they have withdrawn earlier cautionary statements and abandoned the transaction.
TSL Limited stated, “The Board of Directors of the Company (the ‘Board’) wishes to advise shareholders and the investing public that the Company has, after full consideration and in consultation with its professional advisors, decided not to proceed…” This announcement effectively ends all negotiations and due diligence related to the acquisition of Nampak Zimbabwe.
Similarly, Nampak Zimbabwe communicated, “Shareholders are referred to the cautionary announcement dated 5 September 2023 regarding the proposed disposal of a majority of Nampak Zimbabwe’s shareholding to TSL Limited.
The Board of Directors wishes to advise that, after careful consideration and deliberation, the parties have mutually agreed not to proceed with the transaction.”
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Both boards noted that the decision followed careful review of all relevant advisories and due diligence outcomes.
The official statements emphasized that various factors were considered, but no specific reasons for abandoning the transaction were disclosed.
Instead, both companies indicated they would now focus on their respective core business strategies.
Shareholders were advised to disregard previous cautionary statements regarding the transaction.
TSL Limited and Nampak Zimbabwe confirmed: “Shareholders and the investing public are therefore advised to exercise caution when dealing in the Company’s securities.
"No further announcements are intended regarding this matter.”
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