Dangote sugar shareholders approve Savannah sugar merger
Nigeria, July 10 -- The shareholders of Dangote Sugar Refinery Plc (DSR) have endorsed the formal takeover of Savannah Sugar Company Ltd (SSCL).
This, they say, is in a bid to enhance production capacity and further increase their market share.
According to a statement by a spokesperson of the conglomerate, the shareholders of DSR during their Extraordinary General Meeting (EGM), voted in favour of the merger of the two company as the sub-Saharan Africa's largest sugar refining firm embarked on the next stage of its backward integration plan to revolutionized the sugar sub-sector of the nation's economy.
DSR had earlier announced plans to merge with SSCL through a disclosure notice sent to the Nigerian Stock Exchange.
It said, at the ...
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