Latest news with #SaudiAgricultural&LivestockInvestmentCo.
Bloomberg
14-04-2025
- Business
- Bloomberg
Olam to Spend $2 Billion From Saudi Sale on Lowering its Debt
Singaporean food conglomerate Olam Group Ltd. said it will use proceeds from the recent stake sale in its agri-business unit to pay off debt, sending its shares up 4% on Monday. The group in February agreed to sell a controlling stake in Olam Agri to state-owned Saudi Agricultural & Livestock Investment Co. for up to $2.58 billion. Olam will spend about $2 billion of that to de-leverage its balance sheet, making it 'debt-free and self-sustaining', according to an emailed statement.
Bloomberg
23-02-2025
- Business
- Bloomberg
Olam Group Confirms Sale of Agri Business Stake to Saudi Fund
Olam Group Ltd. has confirmed it will sell its 44.6% stake in its agribusiness to a state-owned Saudi investment firm for $1.78 billion. Saudi Agricultural & Livestock Investment Co., controlled by the country's sovereign wealth fund, was reported in November to be in advanced talks on a transaction that would value Olam Agri Holdings at about $4 billion.
