Associated British Foods’ offer is 36% premium to price of Illovo Sugar shr price of 18.37 rand on Feb. 5.
* “Africa is a growth market for sugar, driven by increasing populations and rising incomes. Illovo is well positioned to capitalize on this growth”;
* “Full ownership will accelerate Illovo’s progress”;
* NOTE: Feb. 8, Illovo Sugar Gets Buyout Offer From Majority Owner AB Foods. Source: Bloomberg