GAF Announces the Acquisition of Icopal

GAF, North America’s largest roofing manufacturer, announced today that it has entered into a definitive agreement to acquire Icopal (“the Company”), a leading pan-European manufacturer of roofing and other waterproofing products, from Investcorp Ltd for approximately €1 billion. The transaction, which builds upon GAF’s market-leading products by adding a portfolio of high-quality brands in Europe and the United States, will create the world’s pre-eminent roofing company. The acquisition is expected to close by the second quarter of 2016.

Olenex to Become a Full-Function Joint Venture

Archer Daniels Midland Company (NYSE: ADM) and Wilmar International Limited (SGX: F34) announced today that they have entered into an agreement whereby Olenex, their partnership to market oils and fats in Europe, will become a full-function joint venture with its own assets. As part of the agreement, ADM will transfer two sites—a specialty oils and fats facility and a palm refining plant in Hamburg, Germany—to the new joint venture. Wilmar will transfer its tropical oils processing plants in Brake, Germany and Rotterdam, the Netherlands. In addition to processing, the joint venture will also integrate raw materials sourcing, trading, and sales and marketing operations. The agreement also stipulates that refined oils and fats from ADM’s other plants in the Czech Republic, Germany, the Netherlands, Poland and the U.K. will be marketed by Olenex.