White & Case advises SALIC on US$1.78 billion acquisition of additional stake in Olam Agri

Global law firm White & Case LLP has advised Saudi Agricultural and Livestock Investment Company (SALIC), a wholly owned subsidiary of the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, on the agreement to increase its ownership stake in Olam Agri Holdings Limited (Olam Agri) from 35.4 percent to 80.01 percent for approximately US$1.78 billion, with a call option to acquire the remaining 19.99 percent within three years.

“The successful completion of this transaction not only strengthens SALIC’s position in the global agricultural sector but also demonstrates our commitment to supporting our clients’ strategic growth initiatives,” said White & Case partner Sami Al-Louzi, who co-led the Firm’s deal team.

Olam Agri is one of the largest agriculture-commodity traders globally and a market leader in the food, feed and fibre sector. Established in 1989 as a cashew exporting business in Nigeria, Olam Agri now operates in over 30 countries across Africa, Asia, Australia, the Americas and Europe, employing over 9,600 people and managing more than 90 subsidiaries.

White & Case previously advised SALIC on its initial acquisition of a 35.4 percent stake in Olam Agri for approximately US$1.24 billion in 2022.

The White & Case team which advised on the deal was led by partners Sami Al-Louzi, Sonia Abdul-Rahman (both Dubai) and Steven Worthington (Abu Dhabi) and included partners Craig Atkinson (Riyadh), Strati Sakellariou-Witt (Brussels), Orion Berg (Paris), Kaya Proudian (Singapore), Nicholas Greenacre, Jonah Anderson, Philip Trillmich, Will Smith (all London), Sara Nordin (Brussels, Stockholm) and William Watson (Dubai), counsel Irina Trichkovska (Brussels), Sidney Tang (Sydney) and Chris Thomas (London) and associates Tigran Saakyan, Cassy Raby, Mohamed Dhaif, Jack Brasher, Dylan Nathwani, Ahmad Bin Dalmook, Usman Malik, Camellia Homampour, Sahal Suleman, Charles Tuckwell, Reece Patel, Sam Manful (all Dubai), Mayce Khayri, Abdulrahman Alkhudairy, Moayad Al Zahrani (all Riyadh), Monica Shah, Ed Pearson, Francesca MacSwiney, Vishnu Rege, Aliya Manji, Alec Buchanan (all London), Lancelot Dinsart (Brussels), Barbora Smekalova (Prague), Juan Lopez Cortina, Alexandro Lopez Salazar (both Mexico City), Rosie Wang (Shanghai), Girindra Henriyono (Jakarta), Enrique Fayos de Arizon, Aron Senoner, Claire Turgot, Jia Liu, Elisa Coppo, Giulio Preti, Julia Marssola (all Brussels), Louis Roussier (Paris), Cornelius Börner (Dusseldorf), Tim Sensenig, Joanna Anyanwu, Allison Kepkay (all Washington, DC), Stephanie Zhao, Ji Yang Lim (both Singapore).

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