Canada's PSP Investments buys Olam's water rights in Australia for $332.5m

Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers, has acquired the permanent water rights of Singapore-listed Olam International in Australia for about A$490 million ($332.5 million).

In a statement, PSP Investment said the global food and agribusiness company, through its wholly-owned subsidiary Olam Orchards Australia, has agreed to sell 89,085 megalitres of its permanent water rights to a related entity of PSP.

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