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 ...