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Sovereign Wealth Funds Briefing - Categorized | Investment

Australia: Laguna Bay acquires Olam’s almond groves

Posted on 14 November 2013

Laguna Bay Pastoral Company has sealed a deal with Singaporean-listed commodity trader Olam International – backed by sovereign wealth fund Temasek Holdings – to purchase and lease back 12,000 hectares of almond groves in Victoria for more than $200 million.
Olam bought the groves in 2009 from the failed managed investment scheme company, Timbercorp, for $128 million cash, in what was regarded then as a fire sale. Laguna Bay Pastoral’s joint chief executive Tim McGavin confirmed the deal, which was released to the Singapore Exchange on Wednesday night, The Australian Financial Review reports………………………………………..Full Article: Source


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