Cecile Holding purchases 60.7% of Union Sugar Estates

The Union Sugar Estates Company Limited has completed the sale of Compagnie de Beau Vallon Limitée’s 60.7% indirect shareholding to Cecile Holding Ltd, led by some minority shareholders of USE, at a cost of Rs130.75 per ordinary share of USE.

The Board of USE Ltd has confirmed that all conditions have been satisfied, and regulatory approvals have been approved.

Hence, Cecile Holding Ltd is now the holding company of USE. USE shareholders and the investing public are advised to exercise caution when dealing in the company’s shares.

They will be kept informed of further developments regarding the transaction.

Source: Stock exchange of Mauritius