Major dairy farming invester in Uruguay sells land to recoup losses

Friday, May 2nd 2014 - 09:46 UTC

Full article 3 comments

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. Read full article

Comments

Disclaimer & comment rules

Klingon
Obviously land prices are over valued in Uruguay now, so they cashed out.
May 02nd, 2014 - 01:30 pm - Link - Report abuse 0
-+
ChrisR
I think it was suppressed when Pepe's “Special Land Tax” for large holdings was enacted, but rose again when it was kicked into touch by the Judiciary.

Redp0ll is bound to know the details.
May 02nd, 2014 - 06:16 pm - Link - Report abuse 0
-+
redp0ll
Yes I was there today. What detail do you want? Don't think the ICIR land tax had much to do with it really but an awful lot of other factors did
May 03rd, 2014 - 11:47 pm - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!