Apr 14, 06:48 PM

Olam Group Allocates $2 Billion for Debt Reduction and $500 Million Investment; Lowe's Acquires Artisan Design for $1.325 Billion

Olam Group, a Singaporean food conglomerate, announced plans to allocate $2 billion from the proceeds of a recent stake sale in its agri-business unit to reduce its debt burden. The company will also reinstate share buybacks and invest $500 million into its food ingredients subsidiary, OFI. Following this announcement, Olam's shares rose by 4% on Monday. Additionally, the company has indicated a strategic shift towards focusing on its food ingredients business while selling off other assets over time. In a related development, Lowe's Companies has agreed to acquire Artisan Design Group for approximately $1.325 billion, aiming to enhance its interior finishes services for home builders, thereby expanding its presence in the professional contractor market.

#Olam Group #Singaporean #OFI #Olam #Artisan Design Group

Written with ChatGPT (GPT-4o mini).

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Olam Group Allocates $2 Billion for Debt Reduction and $500 Million Investment; Lowe's Acquires Artisan Design for $1.325 Billion

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