Singapore-based multinational food giant Olam International, a global supplier of agricultural products and food ingredients, has brought almond plantations of failed agribusiness group Timbercorp for $128 million. However, the deal is yet to pass some regulatory hurdles, and may take up to two months to complete.

Liquidators Mark Korda and Leanne Chesser of KordaMentha said in a statement: "The sale involves 8,096 hectares of almond groves near the Murray River around Robinvale in northern Victoria, representing about 30 per cent of the Australian almond crop and one per cent of global production."

Olam, having presence in 60 countries with more than 6000 customers, would buy 8096 hectares of almond grove near the Murray River around Robinvale in north-west Victoria. The deal, which also involves 40,825 megalitres of water rights, will make Olam Australia's top almond growers, besides incorporating it in the list of top three growers of the world.

The firm has yet to negotiate the proceeds to be given to about 7000 investors and other stakeholders. A Korda Mentha spokesperson said: ''The bottom line is the growers own the crop, but they would claim rights beyond that. The liquidators must set up a process to deal with the situation.''