Asset Acquisitions and Disposals::Acquisition of 50% of Nauvu Investments Pte. Ltd. by Wilmar International Limited ("Wilmar")

Issuer & Securities

Announcement Title: Asset Acquisitions and Disposals
Date &Time of Broadcast: 21-Mar-2018 17:24:53
Status: New
Announcement Sub Title: Acquisition of 50% of Nauvu Investments Pte. Ltd. by Wilmar International Limited ("Wilmar")
Announcement Reference: SG180321OTHRCCP6
Submitted By (Co./ Ind. Name): Teo La-Mei
Designation: Company Secretary
Description (Please provide a detailed description of the event in the box below): Wilmar wishes to announce that its direct wholly-owned subsidiary, Wilmar Resources Pte Ltd ("WRPL") has acquired a 50% equity interest in Nauvu Investments Pte. Ltd. ("Nauvu"), a company incorporated in Singapore whose principal activity is investment holding, from Olam International Limited ("Olam"), a party not related to Wilmar, for a consideration of up to US$148,000,000 of which US$85,405,628 comprises repayment of a shareholder's loan, subject to such adjustments as provided in the Sale & Purchase Agreement. The purchase consideration was arrived at on a willing-seller, willing-buyer basis.

Nauvu was formerly a 50:50 joint venture company between Wilmar and Olam. Following the completion of the above acquisition by WRPL, Nauvu is now a wholly-owned subsidiary of Wilmar. The aforesaid transaction is not likely to have any material impact on the earnings per share or net tangible assets per share of Wilmar for the financial year ending 31 December 2018.

Issued by
WILMAR INTERNATIONAL LIMITED
21 March 2018