Citing people familiar with the matter, Bloomberg had reported that Saudi Agricultural & Livestock Investment Co, controlled by the country’s sovereign wealth fund, was in advanced talks on a transaction that would value Olam Agri Holdings at about US$4 billion.
Olam Group received a non-binding offer from a state-owned Saudi investment firm for its agribusiness unit, according to a statement Friday, confirming an earlier Bloomberg News report.
“The company is reviewing and in discussions regarding a potential sale of its stake in the Olam Agri business,” Olam said. “No definitive terms or formal legal documentation have been agreed upon.”
