SINGAPORE: Commodity trader Olam Group plans to sell a 35% stake in unit Olam Agri to Saudi Agricultural and Livestock Investment Co for US$1.24bil (RM5.23bil), paving the way for an initial public offering (IPO) and demerger of the unit.
The deal implies a valuation of US$3.5bil (RM14.8bil) for Olam Agri, one of three operating groups formed in early 2020 as the result of a reorganisation.
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