SALIC Acquires Majority Stake in Olam Agri for $1.78 Billion
Deal News | Mar 19, 2025 | White & Case
Global law firm White & Case LLP has successfully facilitated a significant transaction for the Saudi Agricultural and Livestock Investment Company (SALIC), a subsidiary of the Public Investment Fund, Saudi Arabia's sovereign wealth fund. SALIC has increased its stake in Olam Agri Holdings Limited from 35.4% to 80.01% with a cash input of approximately $1.78 billion, also securing a call option to purchase the remaining shares within three years. This transaction marks a further enhancement of SALIC's influence in the global agricultural market and amplifies its growth strategy. Olam Agri, originally established as a cashew exporter in Nigeria in 1989, has grown into a dominant player in the agriculture and food sectors, with operations spanning over 30 countries and employing a workforce of more than 9,600 globally. White & Case has previously represented SALIC in its acquisition of an initial 35.4% interest in Olam Agri in 2022 for $1.24 billion, demonstrating a strong ongoing advisory relationship with SALIC. The legal advisory team's reach extended internationally, encompassing experts from Dubai, Abu Dhabi, Riyadh, London, Brussels, Paris, Singapore, Sydney, Prague, Mexico City, Shanghai, Jakarta, and Washington, DC.
Sectors
- Agriculture
- Mergers and Acquisitions
- Legal Services
Geography
- Saudi Arabia – SALIC, the key player in the article, is a subsidiary of the Public Investment Fund of Saudi Arabia.
- Global – Olam Agri operates in over 30 countries across Africa, Asia, Australia, the Americas, and Europe, making this a globally significant transaction.
Industry
- Agriculture – The article highlights SALIC’s increased investment in Olam Agri, a major entity in agriculture and the trading of commodities in the food, feed, and fiber sector.
- Mergers and Acquisitions – The acquisition of additional shares in Olam Agri by SALIC is a prime example of substantial merger and acquisition activity.
- Legal Services – White & Case, a global law firm, provided legal advisory to SALIC, showcasing its role in facilitating high-value M&A transactions.
Financials
- US$1.78 billion – The amount SALIC paid to increase its stake in Olam Agri from 35.4% to 80.01%.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Saudi Agricultural and Livestock Investment Company (SALIC) | Buyer | Company | A wholly owned subsidiary of the Public Investment Fund, Saudi Arabia's sovereign wealth fund, engaged in agricultural investments globally. |
| Public Investment Fund (PIF) | Parent Company | Government | Saudi Arabia's sovereign wealth fund, owning SALIC, involved in diverse global investments. |
| Olam Agri Holdings Limited | Target Company | Company | A major global player in the agricultural trade, focusing on food, feed, and fiber sectors, with operations in 30+ countries. |
| White & Case LLP | Legal Advisor | Company | A global law firm advising SALIC on its acquisition of an additional stake in Olam Agri. |