Olam completes stake sale in Indonesian JV for $123.03m

After final adjustments, the total consideration for the deal was $119.44m (US$82.5m).

Olam International has completed its divestment of the 50% equity stake in Indonesian sugar joint venture Far East Agri (FEA) for $123.03m (US$85m) to its joint venture partner Mitr Phol Sugar Corporation, a local bourse filing revealed.

Following the final adjustments, the total consideration for the deal was $119.44m (US$82.5m).

The remaining $3.62m (US$2.5m) was contingent on satisfaction of an arrangement provided in the sale and purchase agreement, within three years from the completion of the transaction.

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