SALIC bought a controlling stake in Olam Agri
Olam Group has completed the sale of the first part of the Olam Agri stake in the amount of 44.58% to SALIC for approximately $1.88 billion.
According to the group’s press service, the value of the stake is calculated based on the valuation of the share capital (100%) at $4 billion.
“Olam Agri becomes a company with a controlling stake (80.01%) owned by SALIC and 19.99% by Olam Group,” the statement said.
The sale took place after receiving all necessary regulatory approvals and fulfilling other closing conditions.
After completing the second tranche within three years, Olam Agri will become a wholly owned subsidiary of SALIC. The value of the remaining shares is estimated at $800 million.
For reference: Olam International Ltd. is a multinational agribusiness corporation. The company has offices in 65 countries and is engaged in manufacturing and export-import activities. The company was founded in 1995. Olam Ukraine was founded in 2005. It is a supplier of cocoa beans and cocoa products for Ukrainian confectioners.
In November 2018, SALIC UK acquired Mriya Agroholding. In June, the SALIC UK subsidiary CFG and Mriya Agroholding completed the merger process. The renewed company operates under the Continental Farmers Group brand and cultivates 195 thousand hectares in five regions in western Ukraine.
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