Olam: Sells Dairy Plant In Cote d'Ivoire To Royal FrieslandCampina For US$18.7 Million.

01 Sep 2014 18:11

Olam International Limited announced the sale of its dairy processing plant in Cote d'Ivoire to Royal FrieslandCampina for a cash consideration of US$18.7 million, excluding any working capital delivered at the closing of the transaction. In addition, Olam will assign its trademark "Pearl" for a cash consideration of US$6.3 million, providing Friesland the right to use the trademark for sweet condensed and evaporated milk products in certain designated countries in Africa. Olam expects to book total cash inflow of US$25.0 million and a one-time pre-tax gain of approximately US$10.0 million upon completion of the transaction in Q2 FY2015...

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