Olam completes sale of farmland assets in California
Press release 30th Nov, 2017
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.