Olam Agri has conceded to Louis Dreyfus Commodities' increased takeover bid of Namoi Cotton, the company behind the construction of Western Australia's first cotton processing gin.
Dutch ag giant Louis Dreyfus Commodities will have to terminate its interest in an NT cotton gin and offload shares in a services firm to acquire Kununurra gin funder Namoi Cotton.
The competition watchdog has again raised concerns over a proposed takeover of Namoi Cotton, warning it could significantly reduce competition in the industry.
Western Australian cotton growers could be disadvantaged by a multinational company's proposed takeover of the country's largest producer, the competition regulator has warned.
Two global agribusiness giants have lodged competing bids for ASX company Namoi Cotton, which is behind the construction of WA's first cotton processing gin.
A 5400-hectare parcel of land has been leased to Kununurra's largest farmer in a boost long-held ambitions for the Ord to become a major cotton growing region.
Kimberley Cotton Company has approved construction of WA's first cotton processing gin despite needing to raise extra funds to cover a large cost blowout.
A $40 million cotton gin facility has been approved by an assessment panel, with the community hoping the project would activate the state's economy and agricultural industry.
Development of a cotton gin in northern WA is set to proceed after ASX company Namoi Cotton, NSW wheat grower Ron Greentree and the federal government backed the project.
