14.11.2013 - Australia: Laguna Bay acquires Olam's almond groves
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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