The management of Cocoa Business in Sierra Leone agreed to acquire Cocoa business in Sierra Leone from Agriterra Limited (AIM: AGTA) for $0.75 million in a management buyout transaction on October 5, 2016. The consideration will be paid after 65 business days from completion of the transaction. The current book value of the target assets is $0.5 million If the payment of the consideration has not been received within the stipulated period, the ownership of Cocoa Business in Sierra Leone will immediately revert to the Agriterra Limited. The proceeds of the sale will be applied towards the Agriterra Limited's general working capital requirements David Foreman and Michael Reynolds of Cantor Fitzgerald Europe acted as financial advisor for Agriterra. The management of Cocoa Business in Sierra Leone cancelled the acquisition of Cocoa business in Sierra Leone from Agriterra Limited (AIM: AGTA) in a management buyout transaction on January 16, 2017.