Blog Single

Economy
/ Stella / 0 Comments

PIF’s SALIC to boost stake in Olam Agri to over 80% in $1.78bn deal.

Saudi Agricultural and Livestock Investment Co. has struck a $1.78 billion deal for a controlling stake in Singapore-based Olam Agri Holdings.

The agreement will raise SALIC’s stake from 35.43 percent to 80.01 percent, with an option to acquire the remaining 19.99 percent within three years, the company said in a statement, adding that the transaction is subject to regulatory approvals.

The move aligns with the Saudi firm’s strategy to strengthen global food supply chains, reflecting its 2009 mandate as a Public Investment Fund-owned entity investing in agriculture and livestock to bolster the Kingdom’s food security.

The company has a track record of investing across the global agri-food supply chain to improve access to essential foods, with current investments spanning five continents, seven countries, and 16 food commodities.

Al-Rumaih added that the investment would enable Olam Agri to leverage SALIC’s extensive global network to expand its market presence.

In a separate statement, Olam Agri said the divestment of its entire stake to SALIC will raise total proceeds of $3.9 billion for Olam Group, adding $2.7 billion to its equity reserves.  Olam Agri has a strong presence in grains and oilseeds, animal feed and proteins, edible oils, rice, and cotton.

Source: ARABNEWS

Author

Stella

Related Posts

Economy
Gold prices surge to $4,467.80 as investor demand soars amid interest rate cut expectations
/ Stella / 0 Comments
Economy
UBS chair talked to Scott Bessent about moving bank to US.
/ Stella / 0 Comments

Leave a comment

Your email address will not be published. Required fields are marked *