Olam to sell 35.4% stake in Olam Agri to Saudi investment fund for US$1.2b
Add BT as a preferred source
AGRI-FOOD giant Olam Group has agreed to sell a 35.4 per cent stake in Olam Agri Holdings to the Saudi Agricultural and Livestock Investment Company (Salic) for US$1.2 billion.
Salic is a wholly-owned subsidiary of the Public Investment Fund of the Kingdom of Saudi Arabia.
In a call to discuss the transaction, Olam Group's chief executive Sunny Verghese said this move unlocks the "hidden value" of the Olam Agri business in the group's portfolio and unlocks value for the shareholders of the group.
TRENDING NOW
Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
Buyer for England striker Harry Kane’s former mansion must pay £3.4 million after abandoning deal
As luxury retail goes big, can Singapore’s Orchard Road keep up?
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
