THE fight for control of Caps Holdings Limited (CHL) has turned nasty, with war veteran and businessman Frederick Mutanda alleging that State security agents
ZIMBABWE’s state security service, the Central Intelligence Organisation (CIO), is investigating a volatile commercial dispute that has erupted between the government and interim trustees of Caps Pharmaceutical Trust involving a US$45 million deal, The NewsHawks has established.
This comes as the High Court earlier this month ruled that government should seek arbitration with Caps Pharmaceutical Trust to ascertain the shareholding structure that emerged and movement of money involved when the state bought into the pharmaceutical giant.
Government in 2015 acquired a majority 68% shareholding in Caps Holdings Ltd and all its subsidiaries. The deal, which was bankrolled through Treasury Bills (TBs), was approved by cabinet on 19 November 2015.