Singapore-based Wilmar announced on 16th April that it has acquired a 27.5% equity stake in Cosumar S.A., the sole sugar producer in Morocco for 2.3 billion Moroccan dirhams ($263 million). Societe Nationale d’Investissement, which sold the stake to Wilmar, will subsequently sell up to a 26.5% stake to a consortium of Moroccan institutional investors, with whom Wilmar will control a 54% stake in Cosumar. Consumar is the third largest sugar producer in Africa, owning seven beet sugar factories and five cane sugar factories with total capacity of 1.6 million tonnes. Wilmar has a total of five sugar factories in Australia,… Login to continue

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