Corporate digest

Olam International

AGRI-FOOD giant Olam International has sold its remaining 50 per cent stake in its Indonesian sugar joint venture (JV), Far East Agri, for US$82.5 million - with US$2.5 million contingent on satisfaction of an arrangement provided in the sale-and-purchase agreement, said the company in a bourse filing on Tuesday.

The buyer - its JV partner Mitr Phol Sugar - had in December 2017 invested US$100 million to take up a 50 per cent stake in Far East Agri, and had entered a sales agreement with Olam with an initial total consideration of between US$82.5 million and US$85 million.