Namoi Cotton
Namoi Cotton Limited (Namoi Cotton) and Louis Dreyfus Company (LDC) announced today the signing of a Restructuring Term Sheet detailing the proposed restructure of their joint venture, Namoi Cotton Alliance (NCA).
This follows an announcement late last month, as part of Namoi Cottons 2019 full year results, that the two companies were in discussion around a broader restructure of the joint venture beyond 29 May 2020.
Namoi Cottons Chief Executive Officer, Michael Renehan, said the Board of Namoi Cotton had long recognised that it needed to get back to its core business of ginning and marketing cotton.
This new agreement helps us achieve this by putting the functional operations of the NCA business in the hands of the jo…
Read the full article at: https://www.miragenews.com/namoi-cotton-ltd-and-louis-dreyfus-company-announce-agreement-on-namoi-cotton-alliance-restructure/