13th Jan 2020 11:50
(Alliance News) - Anglo African Agriculture PLC on Monday said it is to conduct site visits with possible investors as part of its proposed Comarco Group acquisition.
The site visits will take place in Mombasa, Kenya in mid-January "with a number of potential debt and equity investors".
Anglo African Africulture, which also owns South African food producer Dynamic Intertrade (Pty) Ltd, has said will raise USD22 million to fund its acquisition of Kenyan marine logistics firm Comarco. This comprises a planned USD16 million in a share placing, at 10 pence each, and USD6 million in a vendor placing on behalf of certain shareholders of Comarco.
According to Anglo African, it is in ongoing talks "with numerous groups", both at the asset and public equity level, in order to decide on which structure and investment partner or partners would be "most beneficial".
"The board will keep shareholders appraised of developments in the weeks ahead," said Anglo African Agriculture.
Shares in Anglo African Agriculture were untraded at 6.75 pence in London on Monday morning.
By Anna Farley; [email protected]
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