Presco Plc wishes to inform stakeholders that Oak and Saffron Limited, a holding company specializing in Oil Palm, Rubber, and Horticulture businesses, has finalized the acquisition of 86.7% of Fimave N.V’s shareholding in SIAT N.V. This acquisition is significant as SIAT N.V holds a 60% stake in Presco Plc. The transaction was successfully concluded on March 4, 2024.
Oak and Saffron Limited has expressed its commitment to maintaining Presco Plc’s listing on the NGX. This acquisition marks Oak and Saffron’s strategic entry into the Oil Palm, Rubber, and Horticulture sectors, highlighting its long-term dedication to developing these industries in West Africa, as well as the horticulture sector in China, Belgium, and the United States.
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Reporting by Naija247news in Lagos, Nigeria.
