The acquisition was made through the consortium comprising National Agricultural Development Company (NADEC), Al Rajhi International for Investment Company, Ajlan & Bros and Olam International.
Further to the awarding of the bid to acquire one of two flour milling companies offered for privatization by the National Centre for Privatization (NCP) and the Saudi Grains Organisation (SAGO) in May, Olam says it has completed the acquisition of its 10% stake for SAR 49.5 million ($18.0 million) on Dec 1.
