Olam

Olam: To make cash offer for NZ Farming Sys Uruguay at NZ$0.75 per share, approx total cost of NZ$25.8m for the remaining shares it does not own. Co is alr the current largest sh/h with 85.9% in total shareholdings after the takeover for NZ Farming which closed in June 2011. NZ Farming is still struggling to turn a profit with a loss of US$8.7m reported in FY12 Jun-end results. However dairy prices have been strengthening with intl milk prices falling for the first time in 2 mths.