Olam buys Nigeria's BUA assets for US$275m

Singapore

COMMODITIES trader Olam International is about to make some pasta. And it is going to do that in Nigeria, where it thinks the market will grow 8 per cent every year and where pasta imports are currently banned.

The group said on Monday that it has forked out US$275 million in total enterprise value to snap up the wheat milling and pasta manufacturing assets of Nigeria's BUA Group, a foods and infrastructure conglomerate.