Olam buys 85% of Indonesia's largest cocoa processor for US$90m
Add BT as a preferred sourceOLAM International has bought 85 per cent of cocoa processing firm YTS Holdings for US$90 million to expand its cocoa platform in Asia, the commodities firm said on Tuesday.
YTS, a company incorporated in Singapore, owns all PT Bumitangerang Mesindotama (BT Cocoa), which is primarily engaged in cocoa processing in Indonesia. BT Cocoa is Indonesia's largest cocoa processor.
The remaining 15 per cent interest in YTS is to be held by the founding members of BT Cocoa, Piter Jasman and family.
Shares of Olam closed on Tuesday at S$1.98, down four Singapore cents.
Share with us your feedback on BT's products and services
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
OCBC consumer banking chief Sunny Quek aims to double wealth business by 2029
‘We’re not a bubble tea brand’: Chagee aims to double Asia-Pacific footprint to 600 stores by 2027
UMS Integration closes 10.2% higher after posting ‘strong’ double-digit sales growth in Q1
