Associated British Foods to Buy Rest of Illovo Sugar for ZAR5.6 Billion
April 08 2016 - 2:52AM
Dow Jones News
LONDON--Associated British Foods PLC (ABF.LN ) Friday said it
will buy the remaining 48.65% interest in Illovo Sugar Ltd.
(ILV.JO) for 5.6 billion South African rand ($0.37 billion), or
ZAR25 per share, in cash.
The U.K. retailer bought its majority shareholding in Illovo in
2006, it said, adding that Illovo is listed on the Johannesburg
Stock Exchange and is the largest sugar producer in Africa.
In February Illovo said it has received a non-binding expression
of interest from Associated British Foods to buy the remaining
shares in Illovo it doesn't already own, for ZAR20 per share.
Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter
@OlgaCotaga
(END) Dow Jones Newswires
April 08, 2016 02:37 ET (06:37 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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