You are here

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

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


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.

The counter closed...