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.

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