Sucden completes acquisition of a minority stake in moroccan sugar business cosumar
On November 30th, Sucden and a group of Moroccan institutional investors (MCMA, MAMDA, CIMR, RCAR) have purchased Wilmar’s 30.05% stake (of which 10% for Sucden) in Moroccan sugar producer Cosumar.
On November 30th, Sucden and a group of Moroccan institutional investors (MCMA, MAMDA, CIMR, RCAR) have purchased Wilmar’s 30.05% stake (of which 10% for Sucden) in Moroccan sugar producer Cosumar.
Sucden and Cosumar intend to develop further synergies, focusing on marketing Moroccan sugar in the world market.
Serge Varsano, Chairman of the Management Board of Sucden, commented: ‘We are very pleased to become a shareholder of Cosumar, the sole sugar producer in Morocco, where our company started its sugar business over 70 years ago. Sucden’s expertise and footprint in the world sugar market will benefit Cosumar’s plans to expand its international sugar activities.’