D1 Oils Chairman and activist investor Brian Myerson has plans to turn the jatropha group into an African ethanol company. Myerson has proposed buying the oilseeds group to use it as a vehicle for floating a cane sugar ethanol venture, Principle Energy, which he is setting up in central Mozambique. The takeover would see D1's jatropha businesses sold-off by February.
The proposed takeover would see D1’s jatropha businesses sold-off by February, and its resources, including £10.3m in free cash, plus $70m-80m in new shares used to develop the ethanol business.
However his plan is being resisted by the remaining five directors, who said they believe D1 Oils had “good long term growth potential” as a champion of jatropha, whose seeds can be refined into biofuels, and which, unlike other oilseed crops, can be grown on poor quality land.
The November 2011 edition of AEFJN's Forum for Action is now online. It contains articles on the ethical responsibility of the Church on the climate issue, on the clean up of the Ogoniland oil spills, which will take decades, on the spread of Libyan arms in the Sahel, on the production of medicines in Africa and on the EU's attempt to force African countries to sign EPAs.
The national election campaign officially started the 28th October in the Democratic Republic of Congo (DRC), exactly one month ahead of historic presidential and legislative elections, scheduled for November 28 2011. 41 humanitarian and human rights organizations, among them AEFJN, have expressed concern about the high political tension and deteriorating security situation. They have called upon all Congolese and international actors involved to take urgent measures to prevent electoral violence, better protect civilians and ensure credible, free and fair elections.