Companies / Australia
Olam Backs Away From Dairy Farmers And Turns To Dairy Trust
July 2008 | Company Finance AlertSingapore-listed agricultural products major Olam International is to purchase a 24.99% stake in New Zealand dairy producer Dairy Trust in a deal worth NZD101mn (US$76mn). The acquisition, which will see Olam sell its existing New Zealand dairy interest Open Country Cheese Co to Dairy Trust, will enhance the latter's ability to compete with giant Fonterra in the profitable New Zealand dairy market, while helping Olam achieve its aim of becoming a global multi-commodities
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