Olam, a food and agri-business, supplying food ingredients, feed and fibre to thousands of customers worldwide, agreed to acquire a 51% stake in Nouvelle Société Cotonnière du Togo, a cotton producer, for $61m. Olam will fund its stake acquisition by a combination of internal accruals and existing debt facilities. It expects to complete the deal in December 2020, subject to completing the privatisation procedure and customary closing conditions.