SINGAPORE (March 3): Olam International has agreed to sell its remaining 50% stake in Indonesian sugar joint venture Far East Agri for between US$82.5 ($114.7 million) and US$85.0 million.
The total consideration is subject to final adjustments as provided in the sale and purchase agreement.
The divestment — to its joint venture partner Mitr Phol Sugar Corporation — will see Olam book a post-tax capital gain of approximately US$37.5 million to US$40.0 million.
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