Olam International Ltd. made a cash bid to buy Dangote Flour Mills Plc of Nigeria as the Singapore-based agriculture trader looks to expand in West Africa as part of a rejig of its portfolio.
Olam will offer 130 billion naira ($362 million) for Lagos-based DFM, which is part of the business empire of Aliko Dangote, Africa’s richest man. The price was calculated on a debt-free basis, and will be adjusted to account for net borrowings, the Nigerian company said in a statement on Tuesday…
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