SALIC completed the acquisition of a 35.4% stake in Olam Agri from Olam Group for $1.24bn.

SALIC, an investment company, completed the acquisition of a 35.4% stake in Olam Agri, a food, feed and fibre agri-business, from Olam Group, a food and agri-business company, for $1.24bn. “SALIC’s investment in Olam Agri is aligned with its strategy and the Kingdom of Saudi Arabia’s Vision 2030 objective for food security. SALIC’s key strategic objective is to contribute to global and domestic food security through long-term strategic investments in the local and international markets. Olam has demonstrated continuous financial growth as well as increasing global food security contribution with a strong presence in grains and diversified products. Our partnership with Olam will expand SALIC’s international footprint and increase access to strategic commodities. SALIC will leverage its international investments and local portfolio companies to strengthen its position across the agri-food value chain as a global food security player,” Sulaiman AlRumaih, SALIC CEO.