{"id":91131,"date":"2024-11-03T00:00:00","date_gmt":"2024-11-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/salic-eyes-bigger-stake-in-olam-agri\/"},"modified":"2024-11-03T00:00:00","modified_gmt":"2024-11-03T00:00:00","slug":"salic-eyes-bigger-stake-in-olam-agri","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/salic-eyes-bigger-stake-in-olam-agri\/","title":{"rendered":"Salic eyes bigger stake in Olam Agri"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">PIF-backed Salic wants a bigger piece of Olam-Agri Holdings<\/strong><strong style=\"background-color: transparent;\">:<\/strong><span style=\"background-color: transparent;\"> Saudi Agricultural and Livestock Investment Co. (Salic) has made a non-binding offer to acquire its remaining stake in Singapore-based Olam Group\u2019s agribusiness unit, Olam Agri Holdings, Olam said in <\/span><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/14.pdf\" rel=\"noopener\">a bourse filing (pdf)<\/a><span style=\"background-color: transparent;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The transaction could value Olam Agri at USD 4 bn, <\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-31\/saudi-arabia-said-to-near-deal-to-take-over-4-billion-olam-unit\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported, adding that negotiations are in an advanced stage. Olam said it is currently evaluating the offer, but noted that the bid could fall through as no binding terms or agreements have been reached.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong>Salic acquired a 35.43% stake in Olam Agri <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/olam-group-completes-124-bln-stake-sale-agri-unit-saudi-firm-2022-12-23\/\" style=\"\" rel=\"noopener\">in 2022<\/a> in a transaction worth USD 1.24 bn, reducing Olam Group\u2019s holding to 64.57%. In August 2023, Olam announced plans to pursue a dual listing in Singapore and Saudi Arabia by 1H 2024, though the timeline has been delayed due to \u201cregulatory bottlenecks,\u201d according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/deals\/singapores-olam-receives-offer-saudi-firm-stake-agri-unit-2024-11-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Olam\u2019s filing said it will \u201cconcurrently explore other strategic options\u201d for its agribusiness listing.<\/p>\n<p class=\"tag-border-left\">IN OTHER M&amp;A NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BinDawood Holding is acquiring Zahrat Al Rawdah Pharmacies<\/strong>, a wholly-owned subsidiary of UAE-based Gulf Pharma Industries\u2019 (Julphar) retail and distribution arm, Julphar said in <a target=\"_blank\" href=\"https:\/\/www.julphar.net\/en\/gulf-pharmaceutical-industries-julphar-announces-divestment-of-zahrat-al-rawdah-pharmacies-llc\" style=\"\" rel=\"noopener\">a statement<\/a>. The agreement is slated for completion in 1Q 2025 and is subject to regulatory approvals, <a target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1765279\" style=\"\" rel=\"noopener\">Argaam<\/a> reported. Julphar\u2019s subsidiary currently operates 173 Zahrat Al Rawdah pharmacies in the Kingdom.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The transaction could value Olam Agri at USD 4 bn<\/p>\n","protected":false},"author":1,"featured_media":91132,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[14,2177],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-ma-watch","tag-saudi-agricultural-and-livestock-investment-company-salic","wpautop","entry"],"acf":{"mongo_id":"d94d293e-86be-4a43-b52c-c48035f47c7d","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/172.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Salic eyes bigger stake in Olam Agri","related_issue":[91120],"teaser":"The transaction could value Olam Agri at USD 4 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.e09a3d8e-0c90-4cb5-89fc-a7f0976c9bda.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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