One of Nigeria’s leading integrated agro-industrial companies, Presco, has completed the acquisition of a 100% equity stake in Ghana Oil Palm Development Company Limited (GOPDCL).
Presco purchased 100% (One Hundred percent) of the 70,580,000 (Seventy Million, Five Hundred and Eighty Thousand) ordinary shares of GOPDC, which translates to a price of approximately USD1.77 for each ordinary share in GOPDC.
This was contained in a recent filing on the NGX by the company, which revealed the $124,926,600 transaction was only awaiting ratification by shareholders during its next Annual General Meeting scheduled to take place on Tuesday, 19 August 2025.
Ghana Oil Palm Development Company Limited (GOPDCL)
GOPDC, incorporated in Ghana on 6 December 1995, is an integrated agro-industrial company specialised in the cultivation of oil palm, extraction of crude palm oil and palm kernel oil, production of specialty oils and fats, and distribution of refined oil products, and is a wholly owned subsidiary of
Société d’Investissement pour l’Agriculture Tropicale (“Siat SA”).
GOPDC is a related party to Presco, being a subsidiary of Siat SA, a key shareholder of Presco. It commenced packaging of olein vegetable oil under the brand “King’s” following the commissioning of a jerrycan filling plant in 2012.
PRESCO’s GOPDCL Acquisition
Following the acquisition, Presco’s plantation size is expected to increase by 37% from around 43,547 hectares to 59,760 hectares, further solidifying its position as a leading oil palm producer in Africa.
The acquisition is also expected to help Presco diversify its currency generation as GOPDC generates around 41% of its revenue from export sales, primarily in US Dollars and Euros, compared to Presco’s use of local currency.
The Acquisition included an initial consideration payment of $64,961,832 and the balance of $59,964,768 to be settled with the proceeds from the Proposed Rights Issue by Presco. Similarly, Presco has also made an offer to SIAT SA to acquire 100% of the 5,000,000 ordinary shares of Saro Oil Palm (SOP), which translates to a price of $9.34 for each ordinary share in SOP.