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Land 'O Lakes Buys Out Farmland Interest
ARDEN HILLS - Jun 16/04 - SNS -- Land O'Lakes intends to buy Farmland's 8% ownership interest in Land O'Lakes Farmland Feed LLC for approximately $12.15 million.
Upon completion of the transaction, Land O'Lakes, directly, and through its subsidiaries, will own all of the animal feed joint venture that was formed in 2000.
The sale is contingent upon bankruptcy court approval in the Farmland bankruptcy case. A motion to approve the sale was filed on June 15, 2004. It is anticipated that the bankruptcy court will hear the matter on or before June 22, 2004.
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