Olam International Ltd. (OLAM), a Singapore-based commodity supplier, will buy 49 percent of ZimbabweΆs biggest cotton company, Aico Africa Ltd. (AICO), for $50 million, the Sunday Mail reported, citing unidentified officials.

Aico declined to comment on the deal, the Harare-based Sunday Mail said on its website. Aico will also sell two of its units separately for $8 million in an effort to cut debt, the Sunday Mail said. Harare-listed Aico, AfricaΆs biggest cotton ginner, has a market value of about $100 million, the paper said.