SINGAPORE, March 14 A unit of Singapore's state
investor Temasek Holdings made an offer on Friday to
buy all of the shares in commodity trading firm Olam
from its minority shareholders for S$2.23 per share, valuing the
company at around S$5.44 billion ($4.3 billion).
Breedens Investments, the Temasek unit, along with Olam's
family share holders, members of its executive committee, and
Arandda Investments, another Temasek unit, already hold around
52.5 percent of Olam shares.
"Breedens wishes to increase its shareholding to support
Olam's strategy and growth plans for the long term," it said in
The offer price is an 11.8 percent premium over Olam's last
Olam came under attack from short-seller Muddy Waters in
late 2012 for its accounting practices, only to be rescued then
by Temasek. A few months later, it set out to cut its capital
spending and debt levels.
($1 = 1.2661 Singapore Dollars)
(Reporting by Rachel Armstrong; Editing by Edwina Gibbs)