Wilmar International to dispose entire stake in Morocco company for US$605m

The company expects to complete the disposal by 4Q23.

Wilmar International has agreed to dispose of its 30.05% equity shareholding in sugar producer Consumar S.A. (Consumar) for US$605m.

Consumar is a company incorporated in Morocco and listed on the Casablanca Stock Exchange.
In a bourse filing, Wilamr said it expects to complete the transaction by 4Q23.

As part of the agreement, Wilmar will acquire Consumar’s entire 45% equity interest in Wilmaco, a company incorporated in Morocco, for US$8.7m.

The acquisition will result in Wilmaco becoming a wholly-owned subsidiary of Wilmar.

Wilmar will also acquire Consumar’s 43.275% equity interest in  Durrah Advanced Development Company in Saudi Arabia for$US$64.7m.