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Temasek-led buyout offer for Olam closes with 58.5% stake achieved

Published on May 23, 2014 10:59 PM
 
A man walks past a logo of Olam International at its office in Singapore in this Nov 29, 2012, file photograph. Temasek unit Breedens Investments and related parties had achieved a stake of 58.5 per cent in Olam International by the close of their takeover offer at 5:30 p.m on Friday. -- PHOTO: REUTERS

Temasek unit Breedens Investments and related parties had achieved a stake of 58.5 per cent in Olam International by the close of their takeover offer at 5:30 p.m on Friday.

Temasek and Breedens had led the buyout bid of the commodity player in April.

As at the close of the offer, Breedens and its consortium members, consisting of Aranda Investments, Olam founding family shareholders and members of the Olam executive committee, collectively held or have agreed to acquire shares representing about 80.4 per cent of all issued shares in Olam.

Breedens director Rohit Sipahimalani said: "We thank all Olam security holders for their response and look forward to Olam's continued success in its strategy and business in the years ahead."

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