SINGAPORE, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Davis Commodities Limited (NASDAQ: DTCK), a prominent agricultural commodity trading company listed on the NASDAQ exchange, today announced the signing of a Memorandum of Understanding (MOU) with Carfax Commodities (Asia) Pte Ltd, a leading global trader of food commodities, to enter into a strategic share acquisition plan on 24 February 2025. This collaboration promises significant synergies and growth opportunities for both entities.
The proposed transaction under consideration involves Davis Commodities Limited potentially acquiring up to 49% of the share capital of Carfax Commodities (Asia) Pte Ltd. This collaboration marks a pivotal moment for both companies, leveraging their expertise and market reach to unlock new avenues for global expansion and operational efficiency.
Transaction Highlights:
Benefits of the Transaction:
Both companies are optimistic about the potential of this strategic partnership to drive growth, foster innovation, and create value for all stakeholders. Further details regarding the transaction will be communicated as negotiations progress.
About Carfax Commodities (Asia) Pte Ltd
Carfax Commodities (Asia) Pte Ltd, established in 2020, is a global trader, merchandiser, and distributor of food commodities, specializing in rice, edible oils, and sugar. The company delivers bespoke and intelligent management of the commodity supply chain with an internationally experienced management team. Carfax Commodities physically sources commodities from a global supply base and markets them to customers worldwide. The company's supply chain integrates transportation by sea, rail, and road, storage, branding, and customized delivery according to customers’ singular needs.
About Davis Commodities Limited
Davis Commodities Limited, listed on the NASDAQ exchange in September 2023, is an agricultural commodity trading company specializing in sugar, rice, and oil and fat products. The company distributes agricultural commodities to markets in Asia, Africa, and the Middle East, offering ancillary services such as warehouse handling, storage, and logistics. Davis Commodities utilizes a global network of third-party suppliers and logistics providers to distribute products under the Maxwill and Taffy brands.
CONTACT: For more information, please contact: Davis Commodities Limited Investor Relations Department Email: investors@daviscl.com Celestia Investor Relations Dave Leung Email: investors@celestiair.com
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