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AFRI-News
AFRI-Events
Forafric Global Signs Letter of Intent to Acquire 100% of AL NASR
Forafric Global announced the execution of a letter of intent for the acquisition of 100% of AL NASR Industries & Systems. AL NASR is a recently established industrial platform in Morocco, dedicated to developing projects in the defense sector. Its portfolio includes minority stakes in two companies that are developing two defense product manufacturing plants in Morocco. Both companies have been granted a license under Moroccan Law No. 10-20, which permits operating in this highly regulated sector. The proposed acquisition, when completed, would mark a significant step in Forafric Global's strategy. It would enable the Company to position itself in a strategic industrial sector, in alignment with Morocco's efforts to develop a national defense industry. Expected closing: Q4 2026. AL NASR is controlled by the same ultimate beneficial owner as Forafric Global. The proposed acquisition therefore constitutes a related party transaction. Completion of the transaction remains subject to, among other factors, the completion of due diligence, the negotiation and execution of definitive agreements, and additional approval by the Company's Board of Directors based of the final terms. It is also subject to the receipt of any required regulatory approvals and authorizations. There can be no assurance that negotiations will result in a definitive agreement or that the proposed transaction will be completed.
Forafric Global Strategically Expands into Food Security, Defense, and Energy Infrastructure
Forafric Global announced a strategic expansion of its business beyond its core agribusiness operations to position itself at the intersection of three high-growth sectors: food security, defense and energy infrastructure. This shift is designed to broaden the Company's role within sectors that are increasingly central to economic resilience, national security and long-term development and ultimately expand its revenue base, strengthen its long-term growth profile and leverage its established operational footprint across Middle East, Africa and international markets.
Forafric Global PLC Trading Halted Due to Volatility Trading Pause
Forafric Global PLC trading halted, volatility trading pause
Forafric appoints Khalid Assari as chairman of the board
Forafric Global announced that Khalid Assari, the CEO of the Company, has been appointed as Chairman of the Board. Assari replaces Saad Bendidi.
Forafric to divest non-core assets for $80M-$100M
Forafric announced 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 $80M and $100M.
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