Wilmar with Cussons to establish 2 JVs in Nigeria. 1) PZ Wilmar, a palm oil refinery business 49% by Cussons and 51% by Wilmar. 2) PZ Wilmar Food to be a consumer edible oils, spreads and margarines business held 51% by Cussons and 49% by Wilmar. Wilmar's share of the JV will cost $27.5mm and will be funded from internal sources and borrowings...
Expected to be completed within 2 yrs and aims to create a new food ingredients biz in Nigeria. Cussons is a consumer products UK grp listed on the LSE, and manufactures products such as soap, detergent, edible oils and spreads and electrical goods…
Wilmar has lost 13.5% since weak 3Q10 results in Nov. Concerns over its margins given price controls in China have affected co’s share price.
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