South Africa’s (SA’s) largest investor, the Public Investment Corporation (PIC) and Pelo Agricultural Ventures are set to buy a majority shareholding in Karan Beef for up to R5,2bn. Karan Beef, created in 1974 by the Karan family and based in Heidelberg, Balfour and City Deep, is solely owned by Ivor Karan. The feedlot accommodates 150 000 head of cattle at any given time. The Balfour-based abattoir has the capacity to process 2 100 head of cattle every day. PIC CEO, Daniel Matjila said the deal would lead to benefits for an array of South Africans, including black farmers. The deal is subject to approval by SA’s competition authorities. Pelo Agricultural Ventures is a black-owned, managed and controlled investment holding company that operates in the agricultural sector in SA and the rest of the continent. Click here to read the full article. – Business Day