Golden-Agri set to take over RCMA sugar division

Golden Agri-Resources

31/10/2019 16:25

LONDON, Oct 31 (Reuters) - International commodities and
energy trader RCMA Group is to transfer its sugar division to
Golden-Agri Resources, effective Friday, a notice to clients
seen by Reuters said.
    Terms of the deal were not disclosed.
    "The decision to transfer our sugar business is aligned with
RCMA Group's vision to become a diversified group with energy,
electricity and consumer goods and services," the notice said.
    RCMA's sugar division is a leading player in the white sugar
containerized trading business. It is headed by Jonathan Drake
who joined the company is 2012 after a long career with Cargill.
    Golden-Agri Resources  GAGR.SI , a palm oil plantation
company, said it would make an announcement on Friday but did
not provide any further details.
    RCMA Group were not immediately available for comment
outside normal office hours.
    Both companies are based in Singapore.

 (Reporting by Nigel Hunt; editing by David Evans)
 ((nigel.hunt@thomsonreuters.com; +44 20 7542 8421; Reuters
Messaging: nigel.hunt.thomsonreuters.com@reuters.net))