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Olam Adds Raft of Banks to IPO of $18 Billion Food Unit

  • BNP Paribas, Deutsche Bank, Mizuho and others added to roster
  • Olam planning London listing of food unit in first half
Olam International Ltd. CEO Sunny Verghese Presents Second-Quarter Earnings News Conference
Photographer: Nicky Loh/Bloomberg

Olam International Ltd. has added a raft of additional banks to work on London initial public offering of its food unit, which could value the business at 13 billion pounds ($17.7 billion), according to people familiar with the matter.

The Singapore-based agri-business has appointed Berenberg, BNP Paribas SA, Credit Suisse Group AG, Deutsche Bank AG, Mizuho Financial Group Inc., Cooperatieve Rabobank UA and Kepler Cheuvreux SA as bookrunners, the people said. The IPO is being led by Citigroup Inc., HSBC Holdings Plc, JPMorgan Chase & Co. and Morgan Stanley, according to the people.