Olam Group's (SGX:VC2) wholly owned subsidiary, Olam International, entered into a conditional sale and purchase agreement to sell 32.41% stake in ARISE P&L to Equitane DMCC for $175 million in cash.
The deal is expected to close by Dec. 31, according to a Thursday bourse disclosure.
ARISE P&L manages ports and logistics infrastructure projects in West Africa. Equitane DMCC, formerly the Africa Transformation and Industrialization Fund, is an investment platform headquartered in Dubai.
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