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28-08-2015, 08:39 AM
(This post was last modified: 28-08-2015, 03:07 PM by CityFarmer.)
Olam sells 20% stake to Mitsubishi Corp. for $1.53 bil
SINGAPORE (Aug 28): Japanese conglomerate Mitsubishi Corp. is acquiring a strategic stake in commodities trader Olam International for $1.53 billion.
Under the subscription agreement, Olam will sell an aggregate of 332.73 million new shares representing 12% of the enlarged share capital to Mitsubishi at an issue price of $2.75 each, a 44% premium to the last price for Olam before trading in its shares was halted on the Singapore Exchange early Thursday.
Separately, Mitsubishi will also acquire another 222 million shares from the founding members of the Kewalram Chanrai Group, representing 8% of the enlarged share capital of Olam.
On completion of both these transactions, MC will become Olam’s second largest shareholder with a 20% shareholding in the company.
Temasek Holdings will remain Olam’s majority shareholder with a 51.4% controlling stake.
...
http://www.theedgemarkets.com/sg/article...rp-153-bil
SINGAPORE (Aug 28): Japanese conglomerate Mitsubishi Corp. is acquiring a strategic stake in commodities trader Olam International for $1.53 billion.
Under the subscription agreement, Olam will sell an aggregate of 332.73 million new shares representing 12% of the enlarged share capital to Mitsubishi at an issue price of $2.75 each, a 44% premium to the last price for Olam before trading in its shares was halted on the Singapore Exchange early Thursday.
Separately, Mitsubishi will also acquire another 222 million shares from the founding members of the Kewalram Chanrai Group, representing 8% of the enlarged share capital of Olam.
On completion of both these transactions, MC will become Olam’s second largest shareholder with a 20% shareholding in the company.
Temasek Holdings will remain Olam’s majority shareholder with a 51.4% controlling stake.
...
http://www.theedgemarkets.com/sg/article...rp-153-bil
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