Olam Sells Stake in Gabon Asset to Africa Finance Corp.

 In news

Olam International Ltd. has sold a 10% stake in Arise Industrial Zones to Africa Finance Corp. for $59 million in cash.

The sale was part of the reorganization of Gabon’s Special Economic Zone, which has been made into three verticals: Arise Port & Logistics, Arise Industrial Zones and Arise Infrastructure Services, the commodity company said Tuesday in a filing to the Singapore Exchange.

Olam, which had a 40.5% stake in Arise Industrial Zone, said the divestment will result in a one-time gain of $27 million. Source: Bloomberg

Recent Posts
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text.

Start typing and press Enter to search