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

AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 
Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.08 0.14s - 137pq - 2rq
Subscribe Now