vestments, a subsidiary of Singapore-based Temasek Holdings, plans to acquire remaining shares in the commodity trader Olam International.The offer price of S$2.23 per share represents a premium of 11.8% over the last traded price.
The company also intends to buy the outstanding convertible bonds and warrants issued by Olam. It seeks to provide Olam with a strong shareholder base to support its strategy and growth plans.
Breedens leads a consortium, which owns a combined majority stake of 52.5% in the commodity trader.
The consortium includes Aranda Investments, Olam founding family shareholders and ten Olam executive committee members, including CEO Sunny Verghese.
Breedens director David Heng said, "Members of our consortium are all long term shareholders of Olam. We have invested in Olam over the years, and share a common investment philosophy to invest and build for the long term.
"We prefer to keep Olam as a listed company, which will continue to be guided by its board and management team. However, we will reassess our position if the minimum public float requirements are not met at the close of the Offer."
Temasek is an investment firm with 71% of its assets in Asia, and 25% in North America, Europe, Australia and New Zealand. It operates 11 offices worldwide, with a S$215bn portfolio as at 31 March 2013.
