Illovo parent indicates interest in buying rest of company
by Staff Writer,
2016-02-08 16:57:58.0
SUGAR producer Illovo’s parent company, Associated British Foods, which owns a 51.35% stake in the locally listed group, has expressed interest in buying all the shares in the company that it does not already own.
Illovo issued a cautionary announcement on Monday, saying discussions were at an early stage, "but if successfully concluded, may affect the price of the company’s securities".
Illovo said there was no certainty that the discussions would result in a transaction.
Sugar cane. Picture: BLOOMBERG
SUGAR producer Illovo’s parent company, Associated British Foods, which owns a 51.35% stake in the locally listed group, has expressed interest in buying all the shares in the company that it does not already own.
Illovo issued a cautionary announcement on Monday, saying discussions were at an early stage, "but if successfully concluded, may affect the price of the company’s securities".
Illovo said there was no certainty that the discussions would result in a transaction.
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