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AGRIBUSINESS | Staff Reporter, Singapore

Olam buys 60% stake in government-owned Cotontchad for $22.3m

Cotontchad is now a subsidiary of Olam.

Olam International bought 60% shareholding interest in Cotontchad SN (Cotontchad) for an aggregate consideration of 9.18b CFA Francs ($22.3m).

According to an announcement, Cotontchad is a government parastatal having exclusive rights to procure, process, and sell Chadian cotton and its by-products.

Following the aforesaid acquisition, Cotontchad becomes a subsidiary of Olam.

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