Saudi -Arabia Salic, the investment bracket of its Public Investment Fund, has approached the Indian Competition Committee for approval to acquire an extra interest of 64.57% in Olam Agri, aimed at fully owned
Salic, an investment arm of the Pif of Saudi Aarabia, has looking for approval from the Competition Committee of India (CCI) to acquire an extra importance of 64.57 percent in Olam Agri.
Public Investment Fund (PIF) has assets under management (AUM) of more than USD 925 billion.
“The proposed transaction relates to Salic’s proposed indirect acquisition of 44.58 percent and up to 64.57 percent of Olam Agri’s stock capital from Olam Agri PTE LTD and Olam Holdings PTE LTD,” according to a notification submitted to CCI on Tuesday.
In a notification, Salic said that the proposed transaction will be submitted on 24 February 2025 on the basis of a share purchase agreement.
In December 2022, Salic acquired an interest of 35.43 percent in Olam Agri.
Salic’s Agri -Focus includes agriculture, purchasing; Present in India via daawat
Saudi agricultural and cattle investment company (Salic) Agri-Business is aimed at agriculture and purchasing and imports raw materials into the Kingdom of Saudi Arabia.
It is present in India via LT Foods LTD, where the investment arm had a 9.22 percent interest in FMCG company, which owns Basmati Rice ‘DaaWat’.
Olam Agri established in Singapore, mainly as a trader and processor of agricultural products. In India Olam Agri conducts the sale of various agri-communities at wholesale level, but only sells Basmati Rice.
Salic and Olam Agri Holdings Ltd have said that the proposed transaction will probably not cause a significant adverse effect on competition in India.
After completion of the sale, Olam Agri will be a subsidiary of 100 percent of Salic.
In February of this year, Salic an agreement was concluded to increase its ownership interest in Olam Agri from 35.4 percent to 80.01 percent for USD 1.78 billion.
The transaction also offers Salic a call option to acquire the remaining 19.99 percent within three years. This investment will strengthen the ability of Salic to improve the worldwide supply of raw materials and to add value to its subsidiaries.
CEO says that full buy is tailored to Salic’s Global Grains strategy and logistics goals
“The full acquisition agreement of Olam Agri corresponds to Salic’s strategic objectives for diversifying sources of essential raw materials, strengthening the integration of supply chain and improving logistical efficiency in its local and international investments.
“Moreover, this acquisition underlines the ambition of Salic to secure a key position in the worldwide sector of the grains,” said Sulaiman Alrumaih, Chief Executive Officer of Salic.
In 2023 Olam Agri generated volumes of more than 39 million tons, income from SGD 31.3 billion and income before interest and tax of SGD 967.7 million.
Published on July 23, 2025
#Salic #gain #full #commitment #Olam #Agri #CCI #approval #Buy