31 August 2015
Clifford Chance advises Mitsubishi Corporation on acquisition of a strategic stake in Olam International for approximately US$1.1 billion
Leading international law firm Clifford Chance has advised Mitsubishi Corporation on the acquisition of a strategic stake in Singapore-listed Olam International Ltd. for approximately US$1.1billion (SGD1.5 billion).
Mitsubishi and Olam have entered into a subscription agreement under which Olam will issue to Mitsubishi approximately 12% of its enlarged issued share capital for SGD2.75 for each new share. Simultaneously, Mitsubishi is acquiring a number of existing Olam shares from one of the current shareholders of Olam, Kewalram Singapore Limited. This will give Mitsubishi, in aggregate, following completion of the subscription and acquisition, 20% of the enlarged issued share capital of Olam.
The team was led by partners Lee Taylor and Kathy Honeywood, with support from senior associate Chua Si Wei and associate Seow Tzi Yang. Partners Raymond Tong and Nish Shetty advised on the regulatory aspects of the transaction.