I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Tuesday 6 September 2011

Olam in talks to acquire Indian spices firm: report

By MINDY TAN


COMMODITY player, Olam International is in talks to acquire privately held Indian spices company, Vallabhdas Kanji Ltd (VKL), The Times of India reported yesterday.

Olam - in which Temasek Holdings is a major shareholder - declined to comment when contacted, saying they do not have the practice of commenting on media reports.

The company is in advanced discussions to clinch a deal, said the report, after the Mariwala family mandated an investment bank for a stake sale, citing people aware of the matter.

Vallabhdas Kanji's managing director, Ajay Mariwala told the newspaper that the company has been running a process to bring a strategic investor, and would announce any developments when ready.

Olam has hit the acquisition trail hard since its commitment to double its FY2016 goal to US$1 billion profit after tax (PAT), announced during their FY2011 full year results briefing last week.

Last week, Olam announced the acquisition of an India-based 3,500 tonnes crush per day (TCD) sugar milling facility and a 20MW cogeneration facility by way of Hemarus Industries, with plans to enhance the sugar milling capacity to 5,000 TCD.

Some of the key acquisitions made by Olam to consolidate its position in the spices business have included California-based Key Food Ingredients (KFI) and Gilroy Foods.

In its financial statement, Olam said that the integration of the acquired companies in the spices and vegetable ingredients business (namely Gilroy, SK Foods, and KFI), had been successfully completed and 'they are now co-located together in Fresno, California, to better extract synergies'.

Separately, Olam subsidiary NZ Farming Systems Uruguay yesterday posted a net comprehensive loss for the year ended June 30 of US$ 1.59 million, performing better than the previous year's loss of US$11.29 million.

Turnover almost doubled year-on-year from US$22.54 million to US$43 million.

No comments:

Post a Comment

Related Posts with Thumbnails