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Olam to take 51% stake in Togo state-owned cotton firm for 15.3m euros
It will fund acquisition by internal accruals, existing debt facilities
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Vivienne Tay
Published Fri, Nov 20, 2020 · 09:50 PM
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Singapore
AGRI-FOOD giant Olam International has inked a deal to acquire a 51 per cent interest in Nouvelle Société Cotonnière du Togo (NSCT), Togo's state-owned cotton company.
Olam will pay 15.3 million euros (S$24.4 million) for the equity stake on a cash-free, debt-free basis and closing net working capital of about 19.1 million euros.
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