Olam International Limited (Olam or the Company) refers to its news release dated September 22, 2017 and wishes to announce that it has successfully completed the sale of the 5,100 acres of Edible Nuts farmland assets in California to Farmland Partners Inc (FPI). The Company has received cash proceeds of US$110.0 million.
Olam continues to operate the Edible Nuts orchards for the next 25 years and will pay FPI a share of the annual revenue under the revenue-sharing model agreed between both parties.
About Olam International Limited
Olam International is a leading agri-business operating across the value chain in 70 countries, supplying various products across 18 platforms to 23,000 customers worldwide. From a direct sourcing and processing presence in most major producing countries, Olam has built a global leadership position in many of its businesses. Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam currently ranks among the top 30 largest primary listed companies in Singapore in terms of market capitalisation. In 2016, Fortune magazine recognised Olam at #23 in its ‘Change the World’ list.
More information on Olam can be found at www.olamgroup.com.
Olam is located at 7 Straits View, Marina One East Tower, Singapore 018936.
Telephone: +65 63394100, Facsimile: +65 63399755.
Issued on behalf of Olam International Limited by:
WATATAWA Consulting, 28 Maxwell Road #03-03 Red Dot Traffic Building Singapore 069120
Contacts For Olam Investor Relations
+65 66031104, 96570339
Chow Hung Hoeng
+65 63179471, 98346335
Contacts For WATATAWA Consulting