PETALING JAYA: Guan Chong Bhd
is aiming to expand its footprint into Ivory Coast with a 25% stake in Transcao Côte d’Ivoire (Transcao CI), a cocoa processing company.
In a filing with Bursa Malaysia, Guan Chong said its subsidiary GB Cocoa Singapore Pte Ltd has signed a memorandum of understanding with Transcao CI’s majority shareholder Conseil Du Café-Cacao (CCC) and minority shareholder Transcao Negoce, securing a three months exclusive negotiation right.
Transcao CI is primarily involved in cocoa processing, manufacturing and the distribution of finished products. CCC is the government regulator overseeing Ivory Coast’s cocoa and coffee sectors, while Transcao Negoce is a subsidiary of CCC.Ivory Coast accounts for around 40% of the global cocoa bean supply with an annual production of about two million tonnes.
