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Fortune
Fortune
Lionel Lim

Saudi Arabia snaps up Olam’s agribusiness division in a deal valued at $4 billion, more than the Singaporean firm’s entire market cap

OLAM SALIC Saudi Arabia Singapore
(Credit: Nicky Loh—Bloomberg/Getty Images)

Olam Group, the Singapore-based food and agribusiness conglomerate, is selling its agricultural products business to Saudi Arabia.

The Saudi Agricultural and Livestock Investment Co. (Salic), owned by the kingdom’s Public Investment Fund, already owns about a third of Olam Agri. On Monday, Salic put forward a plan to acquire the whole business. 

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