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Olam unveils US$1.3b acquisition of ADM's global cocoa business

Shares plummet 3.5% on news of the purchase and amid a broad market retreat

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ADM cocoa facility in Singapore: ADM's capacity will raise Olam's market share to about 16% of global world cocoa processing volumes

Singapore

SHARES in Olam International fell after the agri-commodities group announced a US$1.3 billion purchase of the global cocoa business of Archer Daniels Midland Company (ADM), which would turn it into one of the top three cocoa processors in the world.

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