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Message: [QUOTE="Munyaradzi Mafaro, post: 82174, member: 636"] That huge Olam Agri deal is almost cleared for takeoff. Olam Group got the regulatory green light from nearly everywhere for selling a big chunk of its agribusiness arm to a Saudi firm. They announced approvals are secured in all but two places, with final sign-offs still pending. This move involves handing over a forty-four point five eight percent stake in Olam Agri Holdings to the Saudi Agricultural and Livestock Investment Company, known as SALIC. The agreement, worth one point eight billion dollars, was signed almost a year ago. Olam's boss, Sunny Verghese, told investors the sale will finish as soon as all conditions are met, warning them to be careful trading the shares since it is not done yet. The plan involves two parts. This first chunk involves about one point five billion shares going to SALIC. It values the whole Olam Agri operation at around four billion dollars. After this closes, the Saudi company's ownership would jump to over eighty percent. Olam then has three years to sell its remaining twenty percent stake through a set option arrangement. The group also shared some financial results, showing a massive profit jump for the first half of the year, though it cut its interim dividend slightly. Major regulators like those in India and the European Commission have already approved the acquisition. SALIC, owned by Saudi Arabia's sovereign wealth fund, said this investment boosts its role in global food supply chains and its food security goals. Olam operates in sixty-five countries, including Nigeria, while Olam Agri is based in Singapore. Beyond this deal, Olam aims to focus on a separate public listing for its food ingredients business, called ofi, which brought in a large part of its revenue recently. [/QUOTE]

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