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Olam to sell remaining stake in Olam Agri for US$2.6 billion, focuses on IPO of business unit ofi

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Mia Pei
Chong Xin Wei

Mia Pei &

Chong Xin Wei

Published Mon, Feb 24, 2025 · 08:42 AM — Updated Mon, Feb 24, 2025 · 06:16 PM
    • The food and agri-business giant says the sale of the stake will be carried out in two tranches, with the first tranch to be done by Q4 2025, and the second, within three years of that.
    • The food and agri-business giant says the sale of the stake will be carried out in two tranches, with the first tranch to be done by Q4 2025, and the second, within three years of that. PHOTO: REUTERS

    OLAM is divesting its remaining stake in Olam Agri to Saudi Agricultural and Livestock Investment Company (Salic) for US$2.6 billion.

    While the board has yet decided on the specific use of the proceeds, Olam’s co-founder and group chief executive officer Sunny Verghese said Olam would continue seeking “strategic options to unlock value” for the other two parts of its business – ofi (Olam Food Ingredients) and the remaining Olam Group – including the pursuit of an initial public offering for ofi.

    Shares of Olam Group , which holds about 64.6 per cent of Olam Agri, jumped 5.3 per cent, or S$0.06, to close at S$1.19 on Monday (Feb 24).

    Olam

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