Cosumar is a company that was incorporated in Morocco and listed on the Casablanca Stock Exchange. The company’s principal business is the production of sugar through the processing of sugar cane and sugar beet in Morocco. It also refines imported raw sugar and does the marketing and distribution of these products.
Wilmar International (SGX:F34
) has agreed to dispose of its 30.05% stake in Cosumar S.A. for a cash consideration of 5.96 billion Moroccan dirham (MAD), which translates to about $813.2 million.
On July 30, the group announced that it has entered into an agreement to dispose of its stake to “several Moroccan investors”.
