Olam Confirms Offer From Saudi Arabia for Agribusiness Unit

Bloomberg

01 Nov 2024

(Bloomberg) -- Olam Group Ltd. has received a non-binding indicative offer from a state-owned Saudi investment firm to acquire the remaining stake in its agribusiness unit, according to an exchange filing.

“The company is reviewing and in discussions regarding a potential sale of its stake in the Olam Agri business,” Olam Group said. “No definitive terms or formal legal documentation have been agreed upon.”

Olam Group made the filing in response to a Bloomberg report that Saudi Agricultural and Livestock Investment Co. was in advanced talks on a transaction that would value Olam Agri Holdings at $4 billion. The Singapore-based company said there’s no certainty a sale will proceed.

Saudi Agricultural and Livestock Investment is controlled by the country’s sovereign wealth fund.

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