NEW YORK/ SINGAPORE, Dec 16- Olam International Ltd will buy Archer Daniels Midland Co's cocoa business for $1.3 billion, catapulting the Singapore- based commodities firm into the top tier of global suppliers to the growing chocolate business. The deal would be Olam's biggest ever and mark a dramatic turnaround after an attack two years ago on its acquisition...
Dec 16- Olam International Ltd's $1.3 billion deal to buy Archer Daniels Midland Co's cocoa business will create one of the world's top cocoa bean processors and traders, rivalling Barry Callebaut AG and Cargill Inc.. The Chicago- based firm has eight cocoa bean processing facilities: Ontario, Canada; Koog aan de Zaan and Wormer, the Netherlands; Mannheim, Germany;...
CHICAGO— Archer Daniels Midland says it has agreed to sell its global cocoa business to Olam International for $1.3 billion. ADM's cocoa unit includes facilities in several countries, including Brazil, Canada, Germany, Ghana and Singapore. The Chicago- based company said Monday that a majority of the roughly 1,550 employees in the cocoa business will transfer...
PAINE, CHILE, Dec 2- The world's biggest maker of industrial chocolate Barry Callebaut said on Tuesday there will be a global cocoa surplus this year and possibly the next, taking a more bearish perspective than some other forecasters so far. "This year we will have more beans than we need, so we will have a surplus," Juergen Steinemann, chief executive of the Swiss...
*Ivorian cashew output growing by over 10 pct annually. *Country now world's biggest exporter. BONDOUKOU, Ivory Coast, Oct 29- Forty years ago, Henri Kouakou was struggling to support his family farming a small plot outside Bondoukou, a dusty town in northeastern Ivory Coast, when he first learned that money did, in fact, grow on trees-- cashew trees.
Oct 15- Chocolate and cocoa companies have donated $600,000 toward combating Ebola in West Africa, the World Cocoa Foundation said on Wednesday, the first sign the industry is striving to prevent the virus from spreading to the world's top two growers. So far, the Ebola virus has killed nearly 4,500 people in West Africa with nearly 9,000 infected, the World...
More global companies are interested in targeting investments in sub-Saharan Africa, but it isn't clear that high hopes for the region will pan out.
Temasek Holdings has offered to buy all shares in Olam owned by minority shareholders in a cash deal that values the trading firm at $4.3 billion.
James Sullivan, Director of ASEAN Research at J.P. Morgan tells CNBC's Cash Flow that Singapore will need to double its productivity if it wants to maintain current growth levels.
Asian shares were mostly higher Friday, but gains were capped by uncertainty over the stability of emerging markets and the possibility of a military strike against Syria despite indications a delay might be in the offing.
Singapore's Temasek Holdings says the size of its portfolio soared to a record high in the financial year ending March 2013.
Carson Block, Founder of Muddy Waters Research, discusses why he believes the market is underestimating the risk in Standard Chartered's loan book.
The CEO of Singapore-based commodities firm Olam International, which was targeted by short seller Muddy Waters last year, said the firm has listened to its fiercest critics as it cuts capital spending and downsizes profit expectations.
Olam International, under pressure to retreat from a debt-fueled acquisition spree, will unveil a strategy review on Thursday that many investors hope will target less growth and more cash.
Roger Tan, CEO, SIAS Research says F&N's share is worth between S$8.50 and $11.50 each, and that TCC can afford to increase its bid.
Olam International, which has been battling short-seller Muddy Waters, said on Friday that Singapore state investor Temasek Holdings had raised its stake in the commodities firm to 19 percent from 18 percent.
Asia's wealthiest investors may lose some of their appetite for corporate bonds after getting burned in recent deals, analysts and bankers say, sowing caution in a market where issuance hit a record this year and hiking funding costs for riskier borrowers.
Muddy Waters Research characterized Olam's $1.25 billion fund-raising plan as a "sovereign bailout" since it is backed by Singapore state investor Temasek.
Carson Block, Founder of Muddy Waters Research says Olam's rights issue is a clear victory for the research firm. He characterized the company's $1.25 billion fund-raising plan as a "sovereign bailout".
Alan Lok, Director, Sabio Global Singapore says Olam has not explained its business model clearly enough, and cautions investors to take a long-term view on its stock.