The Delta State Government has closed the deal with Adventium Global Delta Consortium Limited with respect to the shareholders agreement it signed recently with the firm.
The Secretary to the State Government (SSG), Chief Patrick Ukah, who presided over the event in his office, stated that by the terms of agreement, there were certain conditionalites that had to be met before closing the deal.
The SSG stated that conditions such as obtaining the approval of the Federal Competition and Consumer Protection Commission (FCCPC), all other necessary regulatory and government consent, and a resolution of the Delta State House of Assembly approving the agreement.
He equally noted that both parties had passed resolution of either the state Executive Council or a general meeting (as the case may be) approving the agreement and any other necessary third party consent had also been complied with which now provided a basis for both parties to proceed to closing the deal, which culminated in the formal hand-over of Songhai Farms to the Joint Venture Company (JVC).
In his remarks, the Group Managing Director of Adventium Global Consortium Limited, Mr. Isaac Oghogho, thanked the state government for giving the Consortium the opportunity to partner with the state.
He equally assured that his firm will ensure that it plays it’s part in keeping to the terms of agreement it signed with the state government.
It would be recalled that on the 23rd of March, 2022, the Delta State Government signed a shareholder agreement with Adventium Global Delta Consortium Limited, a Subsidiary of Adventium Global Incorporation, USA, for the transformation of the Songhai Delta Farm at Amukpe in Sapele Local Government Area.