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Olam acquisition spree

This article was originally published in The Public Ledger

OLAM has agreed to sell at least $400m in seven-year convertible bonds to fund acquisitions and general corporate needs. The size of the bonds, due for conversion in 2016, could be increased by another $100m. The firm has also acquired a 14.35% stake in New Zealand Dairy Farming Systems Uruguay, which has developed 10,500 hectares of its 36,300 hectares of dairy farm land, for NZ$14.37m (US$9.88m).

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