28 March 2014 21:59 [Source: ICIS news]
In April 2011 the company had announced its participation in the project, in which Olam International currently holds an 80% stake and the Gabon government holds the rest.
Company officials said the decision was made due to a change in Tata’s investment focus away from overseas fertilizer manufacturing and Olam's intention to move to a minority and non-consolidated position in the project.
Olam officials said they are continuing its discussions with other industry participants who have expressed their desire to partner in the project as the company intends to reduce its final equity stake to below 50%.
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