Guan Chong plans purchase of 25% equity in Ivory Coast cocoa processor

KUALA LUMPUR: Guan Chong Bhd's subsidiary GCB Cocoa Singapore Pte Ltd has inked a memorandum of understanding (MoU) with Conseil Du Cafe-Cacao (CCC) and its subsidiary, Transcao Negoce, to acquire a 25% stake in Cocoa processer and distributor Transcao Côte d'Ivoire.

In a filing with Bursa Malaysia, Guan Chong said Transcao Côte d'Ivoire, which is majority owned by CCC, operates in the Ivory Coast and is principally involved in cocoa processing, manufacturing and distributing finished products, creating added value to boost farmers’ income, and promoting local and regional consumption.