Talleys Group Limited entered into an agreement to acquire an additional 4.98% stake in Open Country Dairy Limited (OCD) from Olam International Limited (SGX:O32) for NZD 17.1 million on December 23, 2013. Under the terms of agreement, Talleys will pay NZD 2.05 per share. The transaction will be completed through a combination of direct sale of shares and acceptance of a partial takeover offer from Talley's in accordance with the requirements of the New Zealand Takeovers Code. Irrespective of the acceptances received under the takeover offer from OCD shareholders other than Olam, Olam will continue to own a minimum 10% stake in OCD. The transaction is not expected to have any material financial impact on Olam for the financial year ending June 30, 2014. Simon Pangrazio and Josephine Chew of WATATAWA Consulting acted as PR advisors to Olam International.

Talleys Group Limited completed the acquisition of an additional 4.98% stake in Open Country Dairy Limited (OCD) from Olam International Limited (SGX:O32) on January 17, 2014.