Press release
12th Mar, 2024
ofi secures US$500 million SACE-backed 5 and 7 year financing
Singapore
Olam Group Limited (“Olam Group”) announced today that its wholly owned subsidiary, olam food ingredients (“ofi”), a global leader in naturally good food & beverage ingredients, has secured its inaugural Export Credit Agency (ECA) linked financing aggregating US$500 million. The multi-tranche, dual-currency facility (the “Facility”) comprises of a 5-year US$250 million tranche and a 7-year JPY37.38 billion tranche (~US$250 million). The Facility is backed by SACE, the Italian Export Credit Agency.
Rishi Kalra, Executive Director and Group CFO of ofi said:
“This is a landmark facility – being ofi’s first ECA backed loan and SACE’s first “Samurai” JPY loan. This transaction forms a part of our financing strategy to diversify sources of capital and extend our debt maturity. We are pleased to support SACE’s ‘Push Strategy1’ and look forward to enhancing our engagement with Italian customers and suppliers.”
The Facility has Olam Treasury P
Press release
4th Mar, 2024
Olam Agri acquires Avisen to expand its feed capabilities into Senegal
The acquisition of the country’s second largest poultry feed supplier aligns with Olam Agri’s strategy to strengthen its animal feed capabilities in West Africa
Singapore
Olam Agri, a leading agribusiness in food, feed, and fibre, has completed the acquisition of Avisen SARL (“Avisen”) for EUR 17.0 million, assuming 100.0% ownership of the company. The price consideration was arrived at on a willing-buyer, willing-seller basis, taking into account the business performance and prospects of Avisen, and the capabilities and synergies between Olam Agri and Avisen.
This acquisition aligns with Olam Agri’s strategy to strengthen and expand its animal feed and protein capabilities and to invest in proven businesses having strong market positions. It extends the company’s feed and protein presence in West Africa, where it is one of the leading animal feed and day-old chick producers in Nigeria, while generating synergies with its wheat milling business in Senegal.
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News
9th Nov, 2023
Olam Agri and Nutrifoods Support Akosombo Flood Victims
Olam Agri, the country’s leading supply chain manager in agri-commodity, and its sister company, Nutrifoods, a top food manufacturer in Ghana, on Friday, presented a consignment of relief items to flood victims of the Akosombo Dam spillage.
In mid-October, the Volta River Authority (VRA) began spilling water from the Akosombo reservoir to protect the dam from overtopping.
The influx of large volumes of water has raised levels, causing excessive flooding in several low-lying areas along the Volta River, including, but not limited to, Mepe, Battor, Sogakope, Mafi, Adidome, and Ada.
Blog
20th Mar, 2023
Building a Business that Conserves Forests, One Step At a Time
“I have worked in the Congo basin for years, but nothing could have prepared me for the moment when I was just steps away from Buka, who belongs to one of the four groups of habituated silverback gorillas living in the vicinity of our forest concessions in the Congo Basin,” says Vincent Istace, Head of Corporate Responsibility & Sustainability at Congolaise Industrielle des Bois (CIB), an Olam Agri subsidiary.
Personal pictures of Paki Paki taken by Vincent Istace in 2021. © Vincent Istace
“This landscape is ideal for wildlife viewing compared to other natural forests in the area. The forest is more open, making it easier to see and spot gorillas and other wildlife. This feature has made sites such as Mondika one of the world’s most interesting spots for the study of great apes.
It may surprise some to hear that critical gorilla and chimpanzee habitats around the buffer zones of Nouabale-Ndoki National Park, are also where sustainable timber harvesting is practiced.”
Forest
