Lion Match factory sold to an Indian businessman for $1,68m

Lion Match Zimbabwe's factory was on Friday sold for $1,68 million to an Indian businessman who outbid several other businessmen of Asian origin.

Bidding for the factory, which includes several warehouses, three blocks of offices, two store rooms and safe rooms, residential houses, canteens, boiler area and ablution facilities, started at $1 million.

The factory is one of several properties that were being auctioned by Rub Auctions Real Estate on behalf of their clients.

The factory was being sold to offset about $1,1 million that was owed to 163 employees led by Vincent Mupumha in outstanding salaries dating back to 2009.