PETALING JAYA: Guan Chong Bhd
’s subsidiary, GCB Cocoa Singapore Pte Ltd, is acquiring a 25% stake in Ivory Coast-based Transcao Cote D’ivoire (Transcao CI) from Conseil Du Cafe-Cacao for RM130.10mil.
In a filing with Bursa Malaysia, Guan Chong said the acquisition is part of the group’s growth strategy and also in line with the desire to support the vision of the state of Ivory Coast in its development strategy for the industrialisation of the cocoa sector.
“Transcao CI operates in 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.
“The board does not foresee any material risks pursuant to the proposed acquisition except for the political and economic risk and inherent business risk factors associated with industry,” said Guan Chong.
