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Olam International strikes 'transformational' deal to acquire ADM's global cocoa business for $1.3bn

2014-12-17 01:44:43| Food - Topix.net

ADM chairman and CEO Patricia Woertz said the deal would allow ADM to "redeploy capital to investments that offer improved returns potential and less volatility than the cocoa business, or distribute excess capital to shareholders, or a combination of both". Olam - a leading supplier of cocoa beans with a significant presence in all major cocoa growing regions except Brazil, processing facilities in Cote d'Ivoire and Nigeria, and value-added processing facilities in Spain and the UK - said the deal would catapult it into third place in the global cocoa business behind Barry Callebaut and Cargill, and create significant synergies.

Tags: business international global deal

ADM To Sell Its Global Cocoa Business To Olam

2014-12-16 10:18:19| Agriculture - Topix.net

ADM TO SELL ITS GLOBAL COCOA BUSINESS TO OLAM Dec. 16, 2014 Source: Archer Daniels Midland news release Archer Daniels Midland Company today announced that it has reached an agreement to sell its global cocoa business to Olam International Limited for $1.3 billion, subject to customary adjustments. "We are continuing to actively manage our portfolio to create shareholder value by improving returns and dampening the volatility of our earnings," said ADM Chairman and CEO Patricia Woertz.

Tags: to business sell global

Olam to acquire ADM's cocoa business for S$1.7b

2014-12-16 02:31:58| Food - Topix.net

The acquisition establishes Olam as one of the world's top three cocoa processors, the company said in a filing to the Singapore Exchange on Tuesday. SINGAPORE: Mainboard-listed agri-business giant Olam International said on Tuesday it will acquire the global cocoa business of Archer Daniels Midland for US$1.3 billion .

Tags: business acquire cocoa olam