Olam International:acquire Nigerian flour and pasta manufacturer Dangote Flour Mills for 130 billion naira
. The proposed transaction would include DFM's five flour and pasta manufacturing facilities and its logistics capabilities, including access to the ports of Apapa and Calabar. It is part of Olam's strategy to strengthen its portfolio by investing in proven businesses where it has consistently performed and gained market-leading positions, the company said. Olam currently operates wheat milling and flour and pasta manufacturing in Nigeria and Sub-Saharan Africa.
. The company, known as Blanch's Bus Company and Brunswick Valley Coaches, has a fleet of 48 buses and coaches and manages three depots in New South Wales. The deal amount is about 7.6 times Ebitda , and will be financed with a mix of debt and internal funds. Completion is expected by May 31, ComfortGelGro said. Its shares closed up 1.15 per cent or three Singapore cents to S$2.64 on Tuesday before the announcement.for the fourth quarter ended March 31, up 1.8 per cent from 2.
Source: News Formal (newsformal.com)
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