Published: 13 November 2013

A local investment group led by Mr Lovemore Chihota has acquired Blueberry International Limited from Cambria Plc.

Blueberry International holds numerous entities in various jurisdictions, which includes Cambria's 60 percent shareholding in Celsys.

The board of Celsys announced that the offer for cash previously offered by Cambria will be maintained by Blueberry International.

A circular will be distributed to shareholders in due course.

The board of Celsys was reconstituted effective 30 July 2013 and comprises Lovemore Chihota as Non-Executive Chairman, Valentine Mushayakarara as Finance Director and Tangai Murangari as an Executive Director.

The Celsys board said that it was convinced the new controlling shareholder had technical and financial muscle to bring Celsys to profitability.

Cambria owns 61 percent of Celsys, which specialises in security printing and provision of information technology and telecommunications.

Cambria also owns 100 percent of Millpal, 51 percent of pharmaceutical distributor Panafmed and 51 percent of mobile software producer ForgetMeNot.

Cambria, previously LonZim, held a 79 percent shareholding in beachfront-located Adeamento Turistico de Macuti Hotel in Mozambique and planned to invest the proceeds of that sale in Zimbabwe.

In addition, the ZSE-listed firm owns 100 percent of electronic transfer solutions Paynet and the exquisite Leopard Rock Hotel in the Eastern Highlands.
- businessdaily

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