December 3, 2018 / 10:02 AM / a year ago

South Africa court paves way for class action against Tiger Brands

FILE PHOTO: A couple leaves Tiger Brands factory shop in Germiston, Johannesburg, South Africa, March 5, 2018. REUTERS/Siphiwe Sibeko

CAPE TOWN (Reuters) - A South African court on Monday granted a class action certificate to victims of listeriosis, paving the way for them to claim against Tiger Brands (TBSJ.J) after the world’s largest ever outbreak claimed more than 200 lives in the country.

The source of the outbreak earlier this year was traced in March to a factory owned by Tiger Brands unit Enterprise Foods, leading to the health department recalling tonnes of processed meat products known as “polony”.

Tiger Brands stock has shed more than a third of its market value, some 28.4 billion rand, since it was implicated in the listeria outbreak on March 4.

The shares traded 3.7 percent higher at 277.90 rand by 0947 GMT, tracking a stronger market after China and the United States agreed to a ceasefire in their trade war that has shaken global markets.

Reporting by Wendell Roelf; Editing by James Macharia

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