The CEO of the Saudi Agricultural and Livestock Investment Company (SALIC), Eng. Sulaiman bin Abdulrahman AlRumaih, welcomed Mr. Sunny Verghese, the Co-founder and CEO of Olam International and Olam Agri, on Tuesday, January 17, 2023, at SALIC headquarters in Riyadh, with the presence of a number of officials of the two companies.
The meeting discussed several aspects of partnership and cooperation between the two companies in the field of food security, following the completion of SALIC’s acquisition last month of 35.43% of Olam Agri Holding Company, with a total value of 4.65 billion SAR. Besides, in the light of the increasing global demand for food, both sides assured that they are moving towards achieving the global strategic targets.
It is noteworthy that Olam Ltd. announced last week the intention to conduct an initial public offering of shares of its majority-owned company “Olam Agri Holding” during the first half of 2023. Olam Agri is a leading company in the food and agribusiness sector with a wide global presence and a great ability to meet the needs of the agri-food market based on its 33 years of experience and through its global network and strong presence in emerging markets.