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Forafric剥离非核心资产;任命新首席执行官

2025-02-12 05:24

  • Forafric Global (NASDAQ:AFRI) said on Tuesday that it has adopted a new balance sheet strengthening strategy with a Morocco and soft wheat focus. As part of this initiative, the company is divesting non-core assets: assets outside of Morocco, durum wheat focused businesses and logistics activities in Morocco.
  • The company estimates that this divestment program will generate gross proceeds of between 80 and 100 million USD. These divestments will strengthen the company's balance sheet and will significantly improve its working capital position.
  • The company also announced that it has appointed Khalid Assari as CEO of the company and its wholly-owned subsidiary, Forafric Morocco.
  • Assari replaces Mustapha Jamaleddine, who retired effective December 31, 2024.
  • From 2016 through 2018, Assari was the CEO of Forafric Morocco; most recently, he was an investor in the real estate and agrobusiness sectors in Morocco.

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