Olam Agrees to Sell Australian Almond Orchards for A$200 Million

Olam International Ltd., the commodity supplier backed by Singapore’s Temasek Holdings Pte, said it agreed to sell and lease-back its almond orchards in Australia for A$200 million ($186 million) in cash.

Nearly 12,000 hectares (30,000 acres) of orchards will be sold to Adveq Almond Trust, owned by a group of investors led by Adveq Real Assets Harvested Resources LP, Singapore-based Olam said today in a statement. Under the agreement, Olam will lease-back the orchard land, trees, and infrastructure for 18 years, a deal which could be extended or renewed, it said.