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RPT-BRIEF-Olam International to sell stake in Open Country Dairy
December 23, 2013 / 6:56 PM / 4 years ago

RPT-BRIEF-Olam International to sell stake in Open Country Dairy

(Repeats without change to text)

Dec 23 (Reuters) - Olam International Ltd : * Entered into agreement to sell up to 14.99 percent stake in Open Country Dairy Ltd, New Zealand to Talley’s Group Ltd for up to NZ$46.5 million * Currently the second largest shareholder of Open Country Dairy with a 24.99 percent stake after Talley’s 55.54 percent holding * Transaction will release cash for Olam while still maintaining product off-take arrangements with ocd * Transaction is not expected to have any material financial impact on Olam for the financial year ending June 30, 2014 * Source text for Eikon

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