31 January 2008
Paris - Geocoton Holding, an entity in which Advens and CMA CGM hold a 51% and 49% stake, respectively, is pleased to announce the decision of the Minister of the Economy, Finance and Employment. The minister selected Geocoton Holding's offer to acquire a 51% stake in Dagris. Once the privatization procedure is completed and the employee representative authorities have been informed and consulted, as required prior to any acquisition, Geocoton Holding will become Dagris' majority shareholder.
Today, Dagris is an integrated agro-industrial group upstream from textile production with operations spanning the entire cotton value chain. Dagris' central base of operations is in Africa and Central Asia where it concentrates its resources and know-how in four core business activities: cotton fiber and seed production, cotton fiber sales and quality control, production and sale of oil crops and supply of logistical services.
Geocoton Holding will provide Dagris with management, operations and logistics support. Its strong ties with all major players in the industry will also prove invaluable to Dagris.
Furthermore, each shareholder contributes its own particular assets including relationships fostered with producers, in-depth knowledge of industrial base management in Africa, and expertise in logistics and transport.
This transaction will result in the first French agro-industrial group located in West and Central Africa. It will shore up the cotton and peanut industries which provide a livelihood, both directly and indirectly, for 25 million Africans.
CMA CGM, the world's third largest container shipping company, now lends its logistics expertise and international stature to Dagris. The Group expects to develop strong transport synergies with Advens to benefit Dagris and advance the development of the cotton sector, promoting job creation in Africa.
Alain Wils, general manager of CMA CGM announces: "This investment strengthens CMA CGM's presence in Africa and enables us to extend the reach of our partnerships with African countries. Cotton promises to be a major export industry in the future, and CMA CGM will support the industry by making its global shipping coverage available."
- Ends -
Joint press releaseAdvens, a French agro-industrial group, mainly operates in Africa where it has oil crop manufacturing bases and logistics facilities.
Abbas Jaber, president of Advens, declares: We will be applying our expertise and the valuable experience we acquired in the African agro-industrial sector to another ambitious industrial project by successfully capitalizing on Dagris' many assets."
About Advens
Initially an international commodities trade firm founded in France in 1988, Advens is headquartered in Paris, but it mainly operates on the African continent where it is present in 25 nations.
Today, the group controls manufacturing (Suneor: production of oil crops; Setuna: animal feed production) and shipping and logistics operations in West Africa (Bamako - Dakar railroad).
About CMA CGM
Led by its founder Jacques R. Saadé, CMA CGM is currently one of the world's largest container shipping companies and is ranked number one in France. Operating a fleet of 377 vessels, including 101 company-owned, the Group serves 400 ports of call around the world.
In 2007 it carried a total of over seven million TEUs (twenty-foot equivalent units). With a presence on all continents and in 150 countries through its network of 600 agencies, the Group employs 16,000 people including 4,200 in France.
For more information, please contact:
Advens
Marie-Thérèse Guichard : 01 53 70 74 62
Caroline Simon : 01 53 70 74 65
CMA CGM
Guillaume Foucauld: 01 47 03 68 10
Email: guillaume.foucault@fd.com
Paris - Geocoton Holding, an entity in which Advens and CMA CGM hold a 51% and 49% stake, respectively, is pleased to announce the decision of the Minister of the Economy, Finance and Employment. The minister selected Geocoton Holding's offer to acquire a 51% stake in Dagris. Once the privatization procedure is completed and the employee representative authorities have been informed and consulted, as required prior to any acquisition, Geocoton Holding will become Dagris' majority shareholder.
Today, Dagris is an integrated agro-industrial group upstream from textile production with operations spanning the entire cotton value chain. Dagris' central base of operations is in Africa and Central Asia where it concentrates its resources and know-how in four core business activities: cotton fiber and seed production, cotton fiber sales and quality control, production and sale of oil crops and supply of logistical services.
Geocoton Holding will provide Dagris with management, operations and logistics support. Its strong ties with all major players in the industry will also prove invaluable to Dagris.
Furthermore, each shareholder contributes its own particular assets including relationships fostered with producers, in-depth knowledge of industrial base management in Africa, and expertise in logistics and transport.
This transaction will result in the first French agro-industrial group located in West and Central Africa. It will shore up the cotton and peanut industries which provide a livelihood, both directly and indirectly, for 25 million Africans.
CMA CGM, the world's third largest container shipping company, now lends its logistics expertise and international stature to Dagris. The Group expects to develop strong transport synergies with Advens to benefit Dagris and advance the development of the cotton sector, promoting job creation in Africa.
Alain Wils, general manager of CMA CGM announces: "This investment strengthens CMA CGM's presence in Africa and enables us to extend the reach of our partnerships with African countries. Cotton promises to be a major export industry in the future, and CMA CGM will support the industry by making its global shipping coverage available."
- Ends -
Joint press releaseAdvens, a French agro-industrial group, mainly operates in Africa where it has oil crop manufacturing bases and logistics facilities.
Abbas Jaber, president of Advens, declares: We will be applying our expertise and the valuable experience we acquired in the African agro-industrial sector to another ambitious industrial project by successfully capitalizing on Dagris' many assets."
About Advens
Initially an international commodities trade firm founded in France in 1988, Advens is headquartered in Paris, but it mainly operates on the African continent where it is present in 25 nations.
Today, the group controls manufacturing (Suneor: production of oil crops; Setuna: animal feed production) and shipping and logistics operations in West Africa (Bamako - Dakar railroad).
About CMA CGM
Led by its founder Jacques R. Saadé, CMA CGM is currently one of the world's largest container shipping companies and is ranked number one in France. Operating a fleet of 377 vessels, including 101 company-owned, the Group serves 400 ports of call around the world.
In 2007 it carried a total of over seven million TEUs (twenty-foot equivalent units). With a presence on all continents and in 150 countries through its network of 600 agencies, the Group employs 16,000 people including 4,200 in France.
For more information, please contact:
Advens
Marie-Thérèse Guichard : 01 53 70 74 62
Caroline Simon : 01 53 70 74 65
CMA CGM
Guillaume Foucauld: 01 47 03 68 10
Email: guillaume.foucault@fd.com
© Press Release 2008
