EXCLUSIVE: Offshore investor keen to buy a chunk of IDC’s loss-making Foskor
CEO TP Nchocho says the IDC has received a cash-backed offer from an investor for a significant portion of its 59% stake in Foskor
30 September 2021 - 05:10
The Industrial Development Corporation (IDC) says it has received a cash-backed offer from an international investor that is keen to acquire a significant equity stake in its loss-making subsidiary Foskor.
CEO Tshokolo Petrus "TP" Nchocho told Business Day that the IDC has entered into a period of exclusivity with a "highly interested" offshore investor that has made an indicative offer for Foskor, the only vertically integrated producer of phosphate ore, phosphoric acid and granular fertiliser in SA...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.