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Singapore’s commodity trader, Olam Group has finalised its sale of 35.43% stake in its unit Olam Agri to Saudi Agricultural and Livestock Investment Co (SALIC) for US$1.24 billion.
The share sale will help the Olam to gain faster access into the lucrative Middle East market.
Olam Group will however retain its 64.57% stake in Olam Agri, which is one of the 3 operating groups formed in early 2020 as the result of a re-organisation in the company.
