Press Release

    Olam International acquires remaining 50.0% stake in Acacia Investments

    Press release

    Olam International Limited (Olam), a leading agri-business operating across the value chain in 70 countries, announced today that it has acquired the remaining 50.0% interest in Acacia Investments (AI) it does not already own from its joint venture partner for a total consideration of US$24.0 million.

    AI, which will become a wholly owned subsidiary of Olam post the completion of this acquisition (expected in June 2016), has a significant presence in edible oils refining and distribution in East Africa.

    Olam’s Managing Director and CEO of its Palm and Rubber businesses, Ranveer Chauhan explained the rationale of the investment: “The acquisition of the remaining 50.0% interest in AI allows us to consolidate all our edible oils operations in Mozambique and realise synergies in distribution and brands to take this business to its full potential. It is in line with our stated Palm business strategy to invest in midstream assets in select African markets.”

    About Olam International Limited

    Olam International is a leading agri-business operating across the value chain in 70 countries, supplying various products across 16 platforms to over 16,200 customers worldwide. From a direct sourcing and processing presence in most major producing countries, Olam has built a global leadership position in many of its businesses. Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam currently ranks among the top 50 largest listed companies in Singapore in terms of market capitalisation and is a component stock in the S&P Agribusiness Index and the DAXglobal Agribusiness Index. It is also the first and only Singapore company to be named in the 2009 lists for the Global Top Companies for Leaders and the Top Companies for Leaders in the Asia Pacific region by Hewitt Associates, the RBL Group and Fortune.

    More information on Olam can be found at www.olamgroup.com.

    Olam is located at 9 Temasek Boulevard #11-02 Suntec Tower Two Singapore 038989,
    Telephone: +65 63394100, Facsimile: +65 63399755.

    Issued on behalf of Olam International Limited by:

    WATATAWA Consulting, 28 Maxwell Road #03-03 Red Dot Traffic Building Singapore 069120

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