date:May 10, 2013
Sanyo Foods will invest US$20 million in cash, for a 25.5% equity interest through issue of new shares by the JV that will house Olams instant noodles assets and business in Nigeria. Olam will hold the balance majority ownership of 74.5% in the JV with management control. The consideration has been arrived between both parties on a willing-buyer willing-seller basis. The transaction is subject to customary closing conditions.
Founded in 1953, Sanyo Foods is a global leader and Japans third larg