Olam Group to sell stake in agri unit for $1.24b, paving way for IPO

Olam Group to sell stake in agri unit for $1.24b, paving way for IPO

Photo: Reuters

Singapore-based commodity trader Olam Group said on Friday it plans to sell a 35% stake in unit Olam Agri to Saudi Agricultural and Livestock Investment Co (SALIC) for $1.24 billion, paving the way for an IPO and demerger of the unit.