Following the transaction, the Togolese Republic and the national cotton farmers cooperative Federation Nationale des Groupements de Producteurs de Coton du Togo will hold a 24.0% and 25.0% stake in the JV respectively.
Olam International has acquired a 51.0% interest in Togo’s state-owned cotton company, Nouvelle Société Cotonnière du Togo (NSCT or the JV), for a consideration of EUR15.3 million ($24.4 million).
The global food and agri-business, on Nov 20, has signed a share purchase agreement for the company’s equity stake on a cash free, debt free basis and closing net working capital of some EUR19.1 million.
