Singapore-listed Olam Group has agreed to sell its remaining 32.4% in ARISE Port & Logistics, an African firm, to Equitane DMCC for a consideration of $175 million, according to a statement on Thursday.
The transaction represents about a 7% premium over the carrying value of the investment in the company’s books as at 31 December 2024.
The divestment is part of the group’s reorganisational effort to monetise its remaining assets and progressively distribute the net proceeds to shareholders via special dividends, the statement said. The sale is expected to close in 2025.
Equitane DMCC, formerly known as the Africa Transformation and Industrialization Fund, is a long-term investment platform based in Dubai, UAE, focused on delivering sustainable and innovative solutions across Africa’s critical sectors.
Launched in 2021 by the founding team behind the ARISE group, a pan-African developer and operator of industrial parks and logistics networks, the platform inherited deep operational roots through ARISE Integrated Industrial Platforms, ARISE Infrastructure Services, and ARISE P&L.
Arise P&L develops and operates modern ports in Africa with a team of more than 500 employees, per its website.
In 2022, Olam divested its remaining interests in ARISE IIP and ARISE IS to the broader Equitane conglomerate, marking a strategic pivot in its investment trajectory.
