The Singapore-based food group which has gained majority control of New Zealand Farming Systems Uruguay is also in merger talks with one of the world's top commodity firms.
Olam International has confirmed it is in talks with French company Louis Dreyfus over options to co-operate more, including merging.
Louis Dreyfus is the world's largest cotton and rice trader and ranks in the top three players in orange juice, wheat, corn and sugar, generating about $US35 billion in revenue.
The talks between the two underscore the consolidation in the sector, as global players take advantage of booming demand for commodities driven by a rising world population and fast-growing emerging economies.
Stake of nearly 78% secured
Meanwhile, Olam had by Monday spent $102 million on building its stake in New Zealand Farming Systems Uruguay to nearly 78%.
Its offer of 70c a share closed on Friday, by which time it had already secured enough acceptances to give it majority control.
Olam will now seek board seats and consider how much capital all shareholders will be asked to stump up to complete the development of the Uruguayan farms.
