Senwes to acquire controlling interest in MGK

Senwes aims to acquire a controlling interest in agribusiness group MGK. Both parties have signed a memorandum of understanding to that effect, in which they agree to exercise joint control over MGK.

The farmer-controlled MGK Holdings and MGK management will retain a significant equity interest. In turn, MGK will acquire Senwes’s business operations and assets in the Vaalharts irrigation scheme.

This is subject to certain conditions, such as approval by the competition authorities.