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Wilmar International Forms Joint Venture with Tropical General Investments Group in Africa

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Wilmar International (SGX:F34) signed an agreement with Tropical General Investments (TGI), to form a 50:50 joint venture to address the West African market, according to a Tuesday filing with the Singapore Exchange.

Under the agreement, the agribusiness company and TGI will combine their businesses in Nigeria and Benin to create a single venture, which will target an addressable market of over $12 billion.

The deal is subject to regulatory and other clearances and is slated to conclude later this year.

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