edible nuts

Olam pays $3.1 mil for 29% stake in coffee & nuts JV in Spain

SINGAPORE (Apr 19): Olam International says it has paid 1.88 million euros ($3.05 million) for a 29% stake in a joint venture (JV) company with Guzman Global, the distributor of industrial raw materials as well as coffee & nuts.

Guzman Global holds the remaining 71% stake.

Based in Spain, the JV company is named Guzman Coffee & Nuts (GC&N), and is now an associated company of Olam.

It will import and distribute coffee & edible nuts in the Spanish and Portuguese markets.

Olam sells US farmland assets, enters into revenue sharing model with Farmland Partners

SINGAPORE (Sept 22): Olam International has sold 5,100 acres of its Edible Nuts farmland assets in California to US-listed REIT Farmland Partners Inc (FPI) for US$110 million ($148.2 million).

The transaction is expected to be completed by end Nov, and will see Olam receive the full consideration sum in cash to reduce its invested capital.

Therefter, Olam will enter into a revenue sharing model agreement with FPI to operate the orchards for a period of 25 years while paying FPI a share of the annual revenue.

'Hold' tight to Olam for what’s to come

SINGAPORE (May 17): DBS Vickers Securities is keeping its “hold” call on Olam International with a higher target price of $2.15 compared to $2.12 previously.

This is in contrary to consensus “sell” ratings, which the research house believes is unwarranted.

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