Singapore

Agreement includes revenue-sharing arrangement to operate almond orchards and access permanent water rights Singapore Global food and agri-business, Olam International Limited (“Olam”), today announced that its wholly owned subsidiary Olam Orchards Australia (“OOA”) has entered into an agreement to sell 89,085 megalitres of its permanent water rights in Australia to a related entity of the Public Sector Pension Investment Board (“PSP Investments”), one of Canada’s largest pension investment managers, for a total consideration of A$490.0 million (~US$332.5 million).   In a separate transaction, PSP Investments has agreed to acquire approximately 12,000 hectares of almond orchards and related assets in Victoria, Australia, which were previously leased to OOA. Both the almond orchards and the associated water rights will continue to be operated by OOA.  OOA has also entered into a new, tiered revenue sharing arrangement with PSP Investments for the almond orchards, rela

Please refer to the attachment. 10 Dec 2019 – Olam Orchards Australia Announces Sale of Permanent Water Rights