Ethiopia’s Wonji Sugar up for privatization in a US$393m deal

ETHIOPIA – Ethiopian oldest sugar estate, Wonji Shoa Sugar Factory has started negotiations with the government to sell the company to a private buyer, Ethio-Sugar Manufacturing S.C in a deal valued at US$393.41 million (11 billion Br). According to AddisFortune, Ethio-Sugar has written to the Ethiopian Sugar Corporation and the Office of the Prime Minister to provide it with priority preference to buy the Wonji factory. Included in the acquisition bid are two factories run by Wonji Shoa Sugar Factory along with 12,800ha of sugarcane plantations. Wonji Sugar has a…

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