March 16, 2020 / 6:38 AM / 24 days ago

S.Africa's Taste Holdings to liquidate three food businesses

March 16 (Reuters) - South Africa's Taste Holdings said on Monday it was in the process of placing three food business units into voluntary liquidation after a failed attempt to offload its Domino's Pizza business.

As a result of the liquidation of Taste Food Franchising Proprietary, Taste Commissary Proprietary and Taste Food Trading 1 Proprietary Ltd, the company will have to fully impair the remaining intercompany loans, with the units valued at about 450 million rand ($27.38 million), Taste said.

Taste Food Franchising Proprietary owns and licenses Domino's Pizza franchises in South Africa. ($1 = 16.4360 rand) (Reporting by Shanima A in Bengaluru; Editing by Devika Syamnath)

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