Olam Group Subsidiary Bids for Namoi Cotton

Olam Group Limited (SG:VC2) has released an update.

Olam Group Limited’s subsidiary, Olam Agri Holdings Limited, has made a non-binding indicative offer to acquire all shares of Australia’s largest cotton ginner, Namoi Cotton Limited, at A$0.59 per share, totaling approximately A$122 million. This offer challenges the existing scheme arrangement by Louis Dreyfus Company Asia, proposing a higher cash consideration than their A$0.51 per share bid. Investors are advised that the transaction is still subject to conditions and there’s no certainty it will be completed.

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