“SALIC” raises its stake to 80% in “Olam Agricultural” in a deal amounting to 7 billion riyals
She announced "Clear"Today, one of the Public Investment Fund companies completed a strategic deal that increased its stake in the company "Olam Agricultural Holding" to 80.01%, with a total value of the deal amounting to $1.88 billion (equivalent to 7 billion riyals).
This comes within the framework of its ambitious plans to enhance its investment portfolio and expand the scope of its influence in global markets, while this step comes to consolidate the role of… "Clear" Influential in the global food and agriculture sector.
And represents "Olam Agricultural" One of the world’s largest leading companies in the food and agribusiness sector, based on an integrated operational system covering all stages of the value chain. Starting from securing the supply of basic commodities, through advanced processing capabilities, all the way to its extended logistics networks, which directly enhances the efficiency and reliability of supply chains, and ensures the sustainable flow of food commodities towards global markets.
SALIC Group CEO, Eng. Sulaiman bin Abdul Rahman, said: "You go "Clear" From a comprehensive investment strategy that places diversification of sources of supply and direct access to global food sources at the core of its objectives, to ensure the building of a flexible system capable of keeping pace with changes."
He added: "Since the beginning of our partnership with "Olam" In 2022, we aimed to establish more than just an investment partnership; We worked to consolidate the foundations of a food security system extending across continents. The completion of this deal today represents a historic milestone in our journey "Clear"We culminate in our strategic role with a leadership and influential position in shaping the future of global supply chains, to ensure the flow of vital goods with high efficiency and reliability to international markets."
He continued: "This qualitative expansion embodies a strategic balance between our global ambition and our national commitment. We are not satisfied with enhancing the Kingdom’s effective and influential role in the stability of the international food system, but rather we are harnessing these global capabilities and networks to be a safety valve that consolidates the sustainability of local food security, in line with the goals of the Kingdom’s Vision 2030 in building vital sectors that ensure prosperity and sustainable growth."
It is noteworthy that this investment comes within a portfolio "Clear" The growing company, which today includes (12) local and international investments, reflects the group’s strategy to expand the scope of its qualitative investments, to ensure access to diverse food sources, taking advantage of the infrastructure and wide geographical spread of the company. "Olam" In more than (30) countries across the continents of Asia, Africa, Australia and the Americas.
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