The VLISCO Group, the majority shareholder in UNIWAX Côte d’Ivoire, has entered into an agreement to sell 72.29 per cent of the share capital and voting rights – representing 15 million shares out of 20.75 million – to the Compagnie Ivoirienne de Coton (COIC). This transaction, carried out as a share deal, will be followed by a transition period during which the current management will remain in place and VLISCO will continue to provide support to ensure the continuity and future success of the company. The completion of the transaction is subject to obtaining the necessary regulatory approvals and is expected to take place in the coming months. This transaction marks a major strategic shift in the ownership of one of the key players in the Ivorian textile sector, with potential implications for governance and market development.
(Source: FGI Studies and Research – Financial Afrik & Sika Finance)