Dekeloil takes full ownership of Ivory Coast palm oil operation

IVORY COAST – Dekeloil Public Limited has taken full ownership of the Ayenouan palm oil project in Côte d’Ivoire.

Biopalm will have a stake of approximately 12.5% in Dekel Oil following the transaction.

The AIM-listed group acquired the outstanding 14.25% in CS Dekel Oil Siva Limited, the owner, from its partner Biopalm Energy through the issue of shares at 13.25p, a 19% premium to the closing price last week.

Biopalm will have a stake of approximately 12.5% in Dekel Oil following the transaction. 

Lincoln Moore, an executive director of Dekel Oil said:  “Today’s acquisition has been secured on terms that are value accretive for our existing shareholders. 

“Equally as important however, is that it gives Dekel Oil 100% ownership of our producing and profitable palm oil project at Ayenouan.”

January 9, 2017; http://businesstimesafrica.net/index.php/agriculture.html