Clifford Chance Advises Mitsubishi on $1.1B Olam Investment
The Japanese trading house is buying a 20 percent stake in the Singapore-listed agribusiness to capture rising global demand for food commodities.
August 31, 2015 at 12:29 AM
1 minute read
Clifford Chance is acting for Mitsubishi Corp. on its $1.1 billion investment in Singapore-listed agribusiness Olam Investment Ltd.
The Japanese trading house is buying a 20 percent stake in Olam to boost its exposure to what it said was the expected rise in global demand for products such as coffee, cocoa and edible nuts. Olam trades 44 different products in 65 countries, including also grains, rice and packaged foods.
In the deal, Tokyo-based Mitsubishi will purchase 332.73 million new shares from Olam, giving it an initial 12 percent stake in the company. Mitsubishi will also purchase another 8 percent from Nigeria's Kewalram Chanrai Group, which first launched Olam in 1989. The company relocated to the city-state in 1995 and listed on the Singapore Exchange 10 years later.
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