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.
CCC is in turn the government regulator responsible for the regulation and development of Ivory Coast’s cocoa and coffee sectors.
"Transcao Côte d'Ivoire’s shareholders have offered GCB an equity participation in its share capital as a strategic partner to support its development and implementation strategy," said Guan Chong.
