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Olam Unit Completes 44.58% Stake Sale in Olam Agri for $1.88 Billion

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-- Olam's (SGX:VC2) subsidiary, Olam Holdings, completed the tranche 1 sale of a 44.58% stake in Olam Agri to the Saudi Agriculture & Livestock Investment Company (SALIC) for $1.88 billion, according to a Monday filing with the Singapore Exchange.

The company has a put option to sell its remaining 19.99% stake in Olam Agri three years from the completion of tranche 1 for around $799.6 million, plus additional considerations. SALIC has a matching call option.

Following the completion of the second tranche, Olam Agri will become a 100% owned subsidiary of the SALIC.

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