Post by Olam

Olam Group has successfully completed the Tranche 1 sale of a 44.58% stake in Olam Agri to the Saudi Agriculture & Livestock Investment Company (SALIC), the food and agriculture investment arm of Public Investment Fund of the Kingdom of Saudi Arabia, for US$1.88 billion (approximately S$2.4 billion). This implies a 100% equity valuation for Olam Agri of US$4.0 billion (approximately S$5.11 billion), plus closing adjustments. The completion of the sale of Tranche 1 in Olam Agri to SALIC is another major step forward in delivering on the Group’s Re-organisation Plan. It realises significant value and will enable right-sizing of the capital structure of the Group. Olam will continue to focus on the responsible divestment and monetisation of the businesses in OGH, and execute growth initiatives to enable ofi to realise its full potential value. Post-transaction, Olam Agri is now 80.01% owned by SALIC, with Olam Group retaining a 19.99% stake as an associated company. The sale of the Group’s remaining 19.99% stake in Tranche 2 will be completed on the exercise of the call/put option within three years, upon which Olam Agri will become a 100% owned subsidiary of SALIC. #OlamGroup