Olam to sell remaining 50% stake in Indonesian sugar JV for more than US$80m

Singapore

AGRI-FOOD giant Olam International has agreed to sell its remaining 50 per cent stake in its Indonesian sugar joint venture (JV), Far East Agri, for between US$82.5 million and US$85 million, subject to final adjustments as provided for in the sale-and-purchase agreement.

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.