Olam gets buyout offer for agri unit from SALIC

02:20 PM (Mecca time) Argaam
Logo of Olam Agri

Logo of Olam Agri

Olam Group received a non-binding indicative offer for its remaining stake in Olam Agri Holdings from Saudi Agricultural and Livestock Investment Co. (SALIC).

 

In a statement today, Nov. 1, Olam Group said it is considering a stake sale in the agri unit, but no definitive terms or formal legal documentation have been agreed upon.

 

For more news and details on M&As

 

SALIC currently holds a 35.4 per cent minority stake in Olam Agri after investing US$1.24 billion (S$1.6 billion) in the unit.

 

In the same vein, Bloomberg reported that SALIC is in advanced talks for a deal estimated at about $4 billion by Olam Agri.

 

In December 2022, SALIC, a wholly owned subsidiary of the Public Investment Fund (PIF), closed the acquisition of a 35.43% stake in Olam Agri for SAR 4.65 billion, Argaam reported.

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