The second major acquisition in Africa by Temasek Holdings Pte or one of its units in six months shows the growing interest in a continent where many countries are expanding faster then developed markets.
Olam International Ltd., the commodity trader that sued Muddy Waters LLC for defamation, said it’s reviewing all legal options, as its second-largest shareholder maintained its stake and two directors bought shares in the company.
Fullerton Fund Management Co., owned by Singapore’s Temasek Holdings Pte, bought a stake in Indian film distributor Eros International Plc, gaining a foothold in the local movie industry known as Bollywood.
Olam International Ltd. Chief Executive Officer Sunny Verghese dismissed claims from Muddy Waters LLC of potential insolvency by pointing to the commodity trader’s more than S$10 billion ($8.2 billion) of liquidity.
Temasek Holdings Pte, Singapore’s state-owned investment company, is planning to set up an office in Europe and another in the U.S., the Straits Times reported, citing the head of the firm’s investment group.