AB Foods still in talks over Illovo acquisition

Associated British Foods said on Friday that it was still in talks over the potential acquisition of the remaining shares of Durban-based Illovo Sugar Ltd it does not already own.

The Primark owner currently has a 51.35% stake in the company, which is South Africa’s biggest sugar producer.

“Shareholders are reminded that at this stage there can be no certainty that the discussions will result in a transaction,” the company said, adding that a further announcement will be made in due course.

At 0832 GMT, AB Foods shares were up 0.5% to 3,396p.