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.
The deal implies a valuation of $3.5 billion for Olam Agri, one of three operating groups formed in early 2020 as the result of a re-organisation.
