Unga Group Plc says it will partner with Dutch-based Nutreco International in two joint venture deals in Kenya and Uganda.
In a cautionary announcement, Unga Group says it shall invest in and form a 50:50 joint venture company in Kenya.
In addition, it will transfer Nutreco International’s respective Kenya aquafeed businesses and certain production equipment to the Kenyan joint venture.
On the other hand, Nutreco International, a global leader in animal nutrition and aquafeed and Unga Millers, another Unga Group subsidiary, shall invest in and create a joint venture in Uganda.
It will also transfer all their respective Uganda animal feeds and nutrition businesses and certain assets to the newly created Ugandan joint venture company.
“Further details of the proposed transactions will be issued upon satisfaction of the relevant conditions and completion of the proposed transactions,” the Unga Group Board of Directors stated.
Unga Group is also involved in a separate transaction where it proposes to sell its assets in Ennsvalley Bakery Limited to BigCold Kenya.
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