White & Case Advises SALIC on $1.78 Billion Olam Agri Stake Increase.

Saudi Agricultural and Livestock Investment Company (SALIC), a wholly owned subsidiary of Saudi Arabia’s Public Investment Fund (PIF), has completed a major deal to increase its stake in Olam Agri Holdings Limited from 35.4% to 80.01%.

The $1.78 billion transaction further strengthens SALIC's position in the global agricultural sector, with a call option to acquire the remaining 19.99% within three years. This strategic move enhances SALIC's focus on food security and global agricultural investment, with legal guidance from White & Case LLP.

This deal highlights SALIC’s continued commitment to securing sustainable food sources and addressing future food security challenges. As part of Saudi Arabia’s sovereign wealth fund, SALIC plays a crucial role in diversifying investments that support global agricultural innovation and supply chains.

By raising its ownership stake in Olam Agri, SALIC further solidifies its presence in the agricultural commodities market, which is essential for ensuring food security at home and abroad.

Since SALIC first acquired a 35.4% stake in Olam Agri in 2022, both companies have seen positive results, with Olam Agri benefiting from SALIC’s global network.

Eng. Sulaiman AlRumaih, CEO of SALIC, commented on the successful partnership, stating that it aligns perfectly with SALIC's strategy to invest in innovative companies addressing global food security needs.

"Since acquiring a 35.43% stake in Olam, we have witnessed its strategic strength as one of the world’s premier commodity trading companies. This success has reinforced our confidence in our investment vision and our pursuit of sustainable growth.

It aligns perfectly with SALIC’s strategy of backing innovative, high-potential companies that address future food security needs through integrated supply chains both at home and abroad."

Olam Agri CEO Sunny Verghese echoed these sentiments, emphasizing the importance of the partnership in driving sustainable sourcing and meeting the increasing global demand for food, feed, and fiber.

“Since SALIC’s initial investment in Olam Agri in 2022, our partnership has unlocked new avenues for growth. With its strategic mandate as a global agrifoods investor and complementary strengths, SALIC and Olam Agri share a common vision focused on sustainable sourcing and meeting the growing demand for food, feed, and fibre. This transaction is transformative for Olam Agri and unlocks significant value for Olam Group shareholders.”  

White & Case LLP played a pivotal role in advising SALIC on the $1.78 billion deal to increase its ownership stake in Olam Agri. The law firm’s extensive international network, with a team of legal experts across key jurisdictions, facilitated this complex transaction.

The deal was led by White & Case partners Sami Al-Louzi, Sonia Abdul-Rahman, and Steven Worthington, alongside numerous other partners, counsel, and associates from various cities worldwide, including Dubai, Abu Dhabi, Riyadh, Brussels, Paris, London, and beyond.

Olam Agri, a leader in the food, feed, and fiber sectors, is one of the largest agricultural commodity traders globally. Established in 1989 in Nigeria as a cashew exporter, Olam Agri now operates in over 30 countries across Africa, Asia, Australia, the Americas, and Europe.

The company employs over 9,600 people and manages more than 90 subsidiaries. This new deal with SALIC will help expand Olam Agri’s reach, fostering growth and improving food production efficiency globally.

White & Case LLP is a global law firm known for providing high-quality legal services to clients across a broad range of industries. Founded in 1901, the firm has grown to become one of the largest international law firms, with offices in over 40 locations worldwide. White & Case specializes in complex legal matters, including banking and finance, mergers and acquisitions, capital markets, dispute resolution, and regulatory compliance. The firm represents multinational corporations, governments, and financial institutions, offering expertise in cross-border transactions, international litigation, and arbitration. White & Case is renowned for its deep industry knowledge, innovative solutions, and commitment to delivering results for its clients.

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