singapores-olam-to-take-over-queensland-cotton

Singapore's Olam to take over Queensland Cotton

Olam has offered up to $110 million for Australia's Queensland Cotton to create the world's third-largest cotton company.

By Sameera Anand

March 07, 2007

Olam International in Singapore announced yesterday March 7 that it will pay up to A$142 million $110 million for Australia's Queensland Cotton. The merger proposal, which will create the world's third-largest cotton company, has been welcomed by shareholders of both companies.

Olam is a global supply-chain manager and operates across 14 products in over 52 origin countries, delivering in 55 destination markets. It has a significant position in several commodities including cocoa, coffee, cashews, sesame, rice and teak wood.

It ranks among the top five global cotton companies and is present in all key cotton exporting countries except Australia. The acquisition of Queensland Cotton, which has a 25% crop share in premium cotton in Australia,...

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