Olam International is now the proud majority shareholder of New Zealand Farming Systems Uruguay.

The Singapore-based company has been edging closer to the 50% threshold since making a takeover offer of 70 cents per share earlier this month.

It’s now passed that mark – and shareholders backing the company can expect payment within a week.

Business commentator Brian Gaynor says Olam’s stake is likely to rise further as more shareholders jump ship before the Friday deadline.

"They were always going to get to the 50 per cent, the offer closes on Friday, and so anyone who wants to sell has to accept before then.

"I think they’ll end up at around 60-65%, because some people will effectively wait until the last day to sell."

Mr Gaynor says Olam’s long-term approach to the investment is good news for remaining shareholders wanting to see their stock rise.

"They’re a long term company, they will probably have a lot more patience than the New Zealand companies.

"Investing in farmland in Uruguay was always going to be a long term prospect, and [PGG] Wrightson didn’t have that patience to wait and let it develop.

"Olam will take that longer term view, but it may take a long time to get back to that $1.50 share price they were at."

Olam will bring a much needed capital injection to Farming Systems. The company needs more than US$60m to complete developments in Uruguay.