Wilmar International : Notification of Changes to Wilmar Subsidiary, Joint Venture Company and Associated Companies

2/23/2018

Asset Acquisitions and Disposals::Notification of Changes to Wilmar subsidiary, joint venture company and associated companies

Asset Acquisitions and Disposals::Notification of Changes to Wilmar subsidiary, joint venture company and associated companies

Issuer & Securities

Issuer/ Manager	WILMAR INTERNATIONAL LIMITED
Securities	WILMAR INTERNATIONAL LIMITED - SG1T56930848 - F34
Stapled Security	No

Announcement Details

Announcement Title	Asset Acquisitions and Disposals
Date & Time of Broadcast	23-Feb-2018 17:26:02
Status	New
Announcement Sub Title	Notification of Changes to Wilmar subsidiary, joint venture company and associated companies
Announcement Reference	SG180223OTHRI8EH
Submitted By (Co./ Ind. Name)	Teo La-Mei
Designation	Company Secretary
Description (Please provide a detailed description of the event in the box below)	Please see attached announcement.

Attachments

Notification of changes to WIL Sub_JV Co_Asso Cos dd 23 Feb 2018.pdf Total size =58K

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WILMAR INTERNATIONAL LIMITED

(Incorporated in the Republic of Singapore) (Company Registration No. 199904785Z)

ANNOUNCEMENT

Wilmar International Limited (the "Company" or "Wilmar") wishes to announce the following:

Acquisition of associated company

1.

Inner Mongolia Hol-Wilmar Agriculture Co., Ltd (China associated company)

Yihai Kerry Investments Co., Ltd ("YKI"), an indirect wholly-owned subsidiary of Wilmar, and Wilmar (IM) Investments Pte. Ltd. ("Wilmar IM"), a direct wholly-owned subsidiary of Wilmar, have acquired 20.40% and 19.60% of the registered capital of Inner Mongolia Hol-Wilmar Agriculture Co., Ltd ("IMHWA"), respectively. YKI and Wilmar IM acquired their interest in IMHWA for a consideration of RMB92,820,000 and RMB89,180,000, respectively. The purchase considerations were arrived at on willing-seller, willing-buyer basis. The balance 60% of the registered capital of IMHWA is held by parties unrelated to Wilmar. Following completion of the above acquisitions, IMHWA is now an indirect associated company of Wilmar. The principal activities of IMHWA are sugar beet cultivation, purchase and processing, the sale of sugar beet and its by-products, and the production and sale of sugar and sugar products.

Change in shareholding in joint venture company and associated company

• 2. Jessica Shipping Co Pte. Ltd. (Singapore joint venture company)

  Jessica Shipping Co Pte. Ltd. ("Jessica") was an indirect wholly-owned subsidiary of Wilmar, through Wilmar Ship Holdings Pte. Ltd. ("WSHPL"), itself a direct wholly-owned subsidiary of Wilmar. WSHPL has disposed of a 50% equity interest in Jessica to Kaisen Limited, a party not related to Wilmar, for a consideration of US$25,000, which was arrived at on a willing-seller, willing-buyer basis. Following the completion of the above disposal, Jessica is now an indirect 50% owned joint venture of Wilmar.

• 3. Estate Management Services (Private) Limited (Sri Lanka associated company)

  Wilmar held an effective 35% equity interest in Estate Management Services (Private) Limited ("EMS") through its indirect 87.5% owned subsidiary, Pyramid Wilmar Plantations (Private) Limited ("PWPPL"). Sunshine Holdings PLC ("Sunshine") and Tata Global Beverages Limited ("Tata") (both of which are not related to Wilmar) held 33.15% and 31.85% of the equity interest in EMS respectively.

  Following a share buyback exercise by EMS, PWPPL disposed 1% of its equity interest in EMS to EMS for a consideration of Sri Lankan Rupee (LKR) 90,000,000 and Tata disposed 14% of its equity interest in EMS to EMS for a consideration of LKR1,260,000,000. Additionally, Tata also disposed 17.85% of its equity interest in EMS to Sunshine for a total consideration of LKR1,606,500,000. Following the above transactions, EMS is now effectively a direct 40% owned associated company of PWPPL and an indirect 35% owned associated company of Wilmar.

WILMAR INTERNATIONAL LIMITED

Announcement - Notification of changes to subsidiary, joint venture company and associated companies (continued)

Cessation of subsidiary

4.

Yihai (Akesu) Oils & Grains Industries Co., Ltd (China subsidiary)

Yihai Kerry Investments Co., Ltd ("YKI"), an indirect wholly-owned subsidiary of Wilmar and Wilmar China Investments (Yihai) Pte. Ltd., a direct wholly-owned subsidiary of YKI, have disposed of their respective 20% and 80% interest in Yihai (Akesu) Oils & Grains Industries Co., Ltd ("Yihai Akesu") to Xinjiang Production and Construction Corps Grain and Oil Storage Station Co., Ltd and Liu Xianhui, parties not related to Wilmar, for a total consideration of RMB18,000,000. The considerations were arrived at on a willing-seller, willing-buyer basis. Accordingly, Yihai Akesu has ceased to be a subsidiary of Wilmar.

Issued by

WILMAR INTERNATIONAL LIMITED 23 February 2018