Nigeria, Feb. 24 -- In a strategic move to reshape its business portfolio, Olam Group has announced the sale of a 44.58% stake in its agribusiness unit, Olam Agri, to the Saudi Agricultural and Livestock Investment Company (Salic)-a subsidiary of Saudi Arabia's sovereign wealth fund.

The deal, valued at US$1.78 billion (S$2.35 billion), was confirmed in an exchange filing on February 24, 2025.

With this acquisition, Salic will gain an 80% controlling interest in Olam Agri, significantly increasing its influence over its operations. The agreement, which values Olam Agri at US$4 billion, is part of Olam's broader strategy to restructure and optimize its business holdings.

Financial Impact and Future Outlook

Olam Group expects to gain US...