GMG Global says the company had on Dec 14 entered into a joint venture agreement with Joseph Desire Biley (JDB) to undertake and operate the development of a 30,000 metric tons natural rubber processing factory in Aboisso, Ivory Coast.
Initially, GMG will hold a 75% stake in the jointly-held public limited company while the remaining 25% stake will be owned by JDB Group.
After three years, GMG’s stake will decrease to 60% while JDB’s stake will increase to 4o%.
GMG Global says the initial capital investment will be funded from internal resources.
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