Deals
Olam’s Mitsubishi Cash Injection to Help With M&A, CEO Says
- Deal is latest in Japan trading house agriculture M&A spree
- Olam shares climb 10% after deal to highest since December
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The S$915 million ($654 million) cash that Mitsubishi Corp. will pay for new shares of Olam International Ltd. will help Singapore’s commodity trader fund acquisitions, according to Chief Executive Officer Sunny Verghese.
The rout in commodity prices and asset values is opening up opportunities for Olam to expand and the money from Japan’s biggest trading house will give it firepower, Verghese said Friday in an with Bloomberg Television.