Africa's richest man, Aliko Dangote, suspends merger of sugar, salt, and rice companies due to non-operational status of Dangote Rice Limited.
Africa's richest man, Aliko Dangote, will not proceed with merging his sugar, salt, and rice companies for now. The proposed merger of Dangote Sugar Refinery, Nascon Allied Industries, and Dangote Rice Limited failed to meet a key requirement, according to Nascon Allied Industries. The Securities and Exchange Commission (SEC) has recommended suspension of the merger due to the non-operational status of Dangote Rice Limited.
April 19, 2024
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