Armajaro to sell trading arm to Ecom
Armajaro, the commodity and hedge fund group co-founded by Anthony Ward, the cocoa trader nicknamed “Chocfinger”, is to sell its cocoa, coffee and sugar trading arm to Ecom Agroindustrial, a family-owned commodities trading house based in Switzerland.The deal would catapult Ecom, a publicity-shy commodities trader founded in 1849, into the top league in the cocoa and coffee industry.
Armajaro had put the physical trading unit up for sale a few months ago. Talks with several suitors failed but the company entered into exclusive negotiations last Friday.
The sale of the physical commodities business by privately owned Armajaro follows several years of difficult trading in “soft” commodities, which include cocoa, coffee, sugar and cotton....MUCH MORE
