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Monday, 20 September 2010

Olam holds 50.1% of NZFSU in unconditional takeover offer

SINGAPORE: Singapore-based Olam International said it now holds 50.1 per cent of NZ Farming Systems Uruguay (NZFSU).


It added its takeover offer was unconditional.

In a news release, Olam said shareholders who have already accepted the offer would receive S$0.68 (NZ$0.70) per share by this Friday, September 24.

It added that the strong support for the offer from NZFSU shareholders was a reflection of the full price being offered.

Earlier this month, NZ Farming Systems Uruguay recommended shareholders accept the offer, in respect of at least part of their shareholding.

It said the recommendation was based on the fact that Olam had increased its offer.

Olam also gave its assurances regarding capital raising and farming operations.

The takeover offer is presently open for acceptance, but will close at 5pm this Friday, September 24.

-CNA/wk
Posted by Createwealth8888 at 16:56
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