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The firm, Associated British Foods (ABF), is an international food, ingredients and retail group with extensive network in Britain, United States and other 41 countries with an annual turnover of 5.6 billion pounds.
The firm, Associated British Foods (ABF), is an international food, ingredients and retail group with extensive network in Britain, United States and other 41 countries with an annual turnover of 5.6 billion pounds.
Kilombero Sugar Company Limited (KSCL) Chief Executive Officer David Coates said his company was owned by three shareholders — South Africa's Illovo Sugar (55 per cent), Tanzania government (25 per cent) ED&F Man Holdings Limited of Britain (20 per cent).
Mr Coates said negotiations between ABF and Illovo were now at a critical stage for take over of the company.
He, however, said the transaction was subject to the approval of regulatory authorities, shareholders and court sanction. Illovo Sugar Company Limited is listed on the Johannesburg Stock Exchange (JSE).
Illovo is Africa's largest sugar producer with operations in Tanzania, Malawi, Mozambique and Swaziland.