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Omnia acquires Oro Agri for $100m

AgriBio Push

By:  
Creamer Media Social Media Editor & Senior Writer
 
CORPORATE ACTIVITY
Chemical manufacturing company Omnia Group has agreed to acquire 100% of the ordinary shares of Oro Agri SEZC and 52% of the ordinary shares of Oro Agri South Africa (SA), which is not already owned by Oro Agro SEZC, for $100-million. Omnia will fund the transaction through existing available cash, with the effective date of the transaction being January 1, 2017. The transaction is expected to close in the next two months. Following implementation, Oro Agri SEZC and Oro Agri SA will become subsidiaries of Omnia and will report under the agriculture segment.
 
 
 
 
 

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