The Business Times
business-time-50
SUBSCRIBERS

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

google-preferred-sourceAdd BT as a preferred source
Published Tue, Dec 16, 2014 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    Nine-month low

    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.

    The counter closed seven cents, or 3.5 per cent, lower at S$1.95 on Tuesday, its lowest level in nine months. Not helping was a broad retreat on the market.

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    Lim's pay package includes about S$3.6 million as salary and around S$3.9 million as bonus, indicates the company's annual report.

    Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025

    Chinese Foreign Minister Wang Yi stopped short of explicitly naming the US or Israel as aggressors, a telling omission from a country that otherwise speaks with little diplomatic timidity.

    Beijing’s calculated silence on the Iran war 

    Those aged below 30 account for the largest share of overqualification.

    More workers in Singapore opt for jobs for which they are overqualified: MOM, NTUC studies

    While residential property has delivered solid gains, observers say other assets such as equities often outpace it over the longer term.

    Higher costs, lower returns: Why are Singaporeans still betting on real estate?

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More