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Mitsubishi to invest 1 billion dollars in Singapore Olam (dpa German Press Agency)

by August 28, 2015 General

Tokyo (dpa) – Japanese trading major Mitsubishi Corp said Friday it
will pay 130 billion yen (1.07 billion dollars) to acquire a
20-per-cent stake in Singapore agri-business giant Olam International
Ltd to expand its business abroad.

The acquisition will enable Mitsubishi to appoint up to two
executives to serve on Olam’s board, the company said in a statement.

Olam, founded in Nigeria in 1989, has operated in 65 countries and
deals in some 44 products, including coffee, cocoa and nuts. The
company has a strong raw materials and food processing base in
Africa, Mitsubishi said.

In 2014, Mitsubishi acquired an 80-per-cent stake in Olam’s grains
company in Australia.