Forafric Global (AFRI) said late Tuesday it was divesting its non-core assets that included assets outside Morocco, durum wheat focused operations, and logistics activities in Morocco to "strengthen" its balance sheet.
The divestment will generate roughly $80 million to $100 million in gross proceeds, the company added.
Forafric also said it named Khalid Assari as chief executive of the company and its Forafric Morocco unit. He will succeed Mustapha Jamaleddine, who retired on Dec. 31.
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