Olam divests its stake in Lansing Olam Canada

OLAM International Limited said it has disposed its entire 50% stake in Lansing Olam Canada by way of a share repurchase arrangement for a cash consideration of US$5.4 million. Lansing Olam Canada is a jointly controlled entity of the company with the balance 50.0% held by its joint venture partner Lansing Trade Group LLC. After this transaction, Lansing Olam Canada will no longer be a jointly controlled entity of Olam. The transaction is not expected to have a material financial impact on Olam for the financial year ending 30 June 2014.