Dangote buys majority stake in Savannah Sugar

Channels Television  
Updated February 7, 2013

Dangote Sugar Refinery announced the acquisition of a 95 percent equity stake in Savannah Sugar Company Ltd.

The deal, according to a notice filed with the Nigerian Stock Exchange, was executed through a Share Sale and Purchase Agreement with Dangote Industries Ltd. through the acquisition of N2.14 billion ordinary shares of N1.00 each in Savannah Sugar.