Singapore owned Olam plans US$2b buys

Verghese: ‘We will do bigger deals that really move the needle for us’. – Bloomberg

LONDON: Olam International Ltd, a commodity trader controlled by Singapore’s state investment company, is ready to deploy almost US$2bil on acquisitions to take advantage of slumping agricultural commodity prices.

“We are begging to enter a buyer’s market,” Sunny Verghese, chief executive officer of Olam, held 51% by Singapore’s Temasek Holdings Pte, said in an interview. “We will do bigger deals that really move the needle for us.”