https://www.engineeringnews.co.za

Associated British Foods plans buyout offer for S Africa's Illovo Sugar

8th February 2016

By: Reuters

  

Font size: - +

JOHANNESBURG - South Africa's Illovo Sugar said on Monday it has received a non-binding expression of interest from its largest shareholder Associated British Foods to acquire the rest of the company's shares.

ABF, which holds a 51.35% stake in Illovo, intends to make an offer of R20 ($1.24) per share for the stake it does not yet hold, Africa's top sugar producer said in a statement, in a deal that would amount to around R4.1-billion.

Illovo shares rose 8.93% to R20.01 by 13:38 GMT.

To watch Creamer Media's latest video reports, click here
 

Edited by Reuters

Comments

Showroom

Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 
Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
Updated 3 hours ago By: Martin Creamer
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.242 0.298s - 137pq - 2rq
Subscribe Now