DANGSUGAR Notifies of Proposed Business Combination Within The Dangote Sugar Group


Monday, November 04, 2019   /6:31 PM  / By NSE / Header Image Credit: Dangote Sugar


This is to inform the investing public that the Board of Directors of Dangote Sugar Refinery Plc (DSR) has recommended a business combination via a scheme of external restructuring (Scheme) which will culminate in the merger of DSR and its subsidiary, Savannah Sugar Company Limited (SSCL), a private limited liability company engaged in sugar cane farming and sugar milling (the Transaction).


It is expected that the Scheme will involve the transfer of all assets, liabilities and undertakings of SSCL to DSR and the cancellation of the entire issued share capital of SSCL with DSR emerging as the surviving entity.


The Transaction will be subject to the receipt of the approval of the shareholders of DSR and SSCL at duly convened separate court ordered meetings of DSR and SSCL respectively as well as, the receipt of regulatory approvals of the Securities & Exchange Commission and the Federal Competition & Consumer Protection Commission.


Further announcements on the Transaction will be provided to the market as the Transaction progresses.


Proshare Nigeria Pvt. Ltd.

Related News

  1. Dangote Sugar PLC 9M 2019 Earnings : Sustained Cost Pressure Weighs On Profit
  2. DANGSUGAR Declares N14.7bn PAT in Q3 2019 Result,(SP:N10.35k)
  3. Dangote Sugar Plc H1 2019 Earnings Update - Revenue And Cost Pressures Dampen Outlook
  4. DANGSUGAR Appoints Mr. Ravindra Singh Singhvi as Acting Managing Director
  5. DANGSUGAR Declares N7bn PAT in Q1 2019 Result,(SP:N13.90k)
  6. DANGSUGAR Announces Release of the Company’s 2018 Audited Financial Statements
  7. DANGSUGAR Declares N21.98bn PAT in 2018 Audited Result,(SP:N14.20k)
  8. DANGSUGAR Declares N16.71billion PAT in Q3 2018 Results (SP:N14.30k)
  9. DANGSUGAR Announces the Resignation of Engr Abdullahi Sule as Group Managing Director
  10. DANGSUGAR Appoints Mr.Ravindra Singh Singhvl as Chief Operating Officer
  11. DANGSUGAR H1 2018 Results- Losing Competitiveness to Border Sneak
  12. DANGSUGAR Declares N12.72bn PAT in Q2 2018 Results,(SP:N17.70k)
  13. DANGSUGAR Appoints Engr Abdullahi Sule as Group Managing Director

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.
Related News