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Pioneer Food Group Ltd (PFGJ.J)

PFGJ.J on Johannesburg Stock Exchange

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Fri, Jul 19 2019

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PepsiCo to buy South Africa's Pioneer Food for $1.7 billion

JOHANNESBURG PepsiCo has struck a deal to buy South Africa's Pioneer Food Group for $1.7 billion, the companies said on Friday, lifting Pioneer's shares and boosting a sector that has been hit by drought and tough trading conditions.

PepsiCo to buy South Africa's Pioneer Food for $1.7 billion

JOHANNESBURG PepsiCo has struck a deal to buy South Africa's Pioneer Food Group for $1.7 billion (£1.36 billion), the companies said on Friday, lifting Pioneer's shares and boosting a sector that has been hit by drought and tough trading conditions.

UPDATE 2-PepsiCo to buy South Africa's Pioneer Food for $1.7 bln

* Investment a boost for struggling South African economy (Adds background, Pioneer CEO comment,)

EMERGING MARKETS-EM assets up on Fed boost; PepsiCo-Pioneer deal lifts S.Africa shares

July 19 Emerging market shares rose on Friday and currencies touched a four-month high after comments from a top Federal Reserve official reinforced expectations of a U.S. interest rate cut this month, stoking demand for riskier assets.

UPDATE 1-South Africa's Pioneer Foods H1 earnings down on maize shortfall

JOHANNESBURG, May 20 South Africa's Pioneer Food Group reported a decline in half-year earnings on Monday, driven down by maize shortages, sending its shares down more than 8 percent.

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