Major dairy farming invester in Uruguay sells land to recoup losses
Friday, May 2nd 2014 – 09:46 UTC
Singapore Olam took control of the 49 dairy farms NZ farming company had in Uruguay
NZ Farming Systems Uruguay, the dairy unit of Singapore-based Olam International in Uruguay, has sold some 7,771 hectares of farm land in Uruguay to local interests for about 53.7 million dollars in gross cash proceeds. The transactions would free up cash “for redeployment into more value-accretive projects,” Olam said in a statement.
About 1,769 hectares in west Uruguay was sold to farming group Nalmer Sociedad Anonima, while retaining access for the next two years via a lease. It sold 6,002…
