Announced
Financials
Sources
Tags
Textile Products
Acquisition
Togo
Majority
Single Bidder
Cross Border
cotton farm
Private
Pending
Friendly
Synopsis
Olam, a food and agri-business, supplying food ingredients, feed and fibre to thousands of customers worldwide, agreed to acquire a 51% stake in Nouvelle Société Cotonnière du Togo, a cotton producer, for $61m. Olam will fund its stake acquisition by a combination of internal accruals and existing debt facilities. It expects to complete the deal in December 2020, subject to completing the privatisation procedure and customary closing conditions.
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