Takeover Of Blue Ribbon Industries By Tanzanian Industrial Conglomerate, Bakhresa Group, Approved

BLUE Ribbon Industries (BRI) creditors on Wednesday approved the takeover of the company by a Tanzanian industrial conglomerate, Bakhresa Group, a move that would revive the food processor. BRI judicial manager Reggie Saruchera said bureaucracy resulted in Bakhresa taking over the company this year although there were local investors who were interested, but lacked capacity. “We waited for three and half years and we were looking for serious investors because BRI required real money for…

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