Singapore: Temasek Holdings backs $170m investment in Boortmalt

Singapore: Temasek Holdings backs $170m investment in Boortmalt

Temasek Holdings, the state investment arm of Singapore, and French farmer-controlled investment fund Unigrains have bought a stake in the Boortmalt unit of French agro-industrial cooperative group Axereal through a capital increase.

Boortmalt is the world’s fifth largest malt producer. The transaction also saw French sugar group Tereos, a minority shareholder in the Belgian-based malt producer, contribute to the capital increase that totalled EUR 150 million ($170 million).

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