Published: 30 July 2013

Astra Industries is awaiting approval from the Competition and Tariff Commission following the acquisition of a controlling stake in the company previously owned by the Reserve Bank.

Astra yesterday announced that a Japan-based firm with operations in the region had snapped a significant stake in the firm.

The transaction, according to the statement released by the company, has partially complied with the country's empowerment policy compelling foreign-owned companies to sell 51% stakes to locals.

The Reserve Bank, through its investment arm Finance Trust of Zimbabwe, disposed the 63% equity of Astra as the central bank winds up its quasi fiscal operations. 
- newsday

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