We have organised our diverse portfolio to create two operating groups, ofi (Olam Food Ingredients), Olam Agri. The Remaining Businesses of Olam Group, comprising Nupo Ventures, Mindsprint and Olam Global Holdco, are focused on driving their respective strategic growth by leveraging their own unique competitive strengths.
ofi and Olam Agri are right at the centre of key global food and consumer trends. For ofi, this includes the growing demand for more plant-based, on-trend, natural, healthy and sustainably sourced food ingredients. For Olam Agri, it’s the rising demand for food, feed and fibre from a growing population, the transition of dietary habits from cereals to more protein-based diets and growing concern for food security; and for the Remaining Olam Group, the growing market opportunities for digital and sustainability solutions to transform the food and agri-business sector.
ofi is set to list in both the premium segment of the London Stock Exchange and the mainboard of the Singapore Exchange (SGX) and demerge from the Olam Group, giving investors a unique opportunity to be part of ofi’s transformation while continuing to benefit from being invested in the Olam Group, including Olam Agri.
The Saudi Agricultural and Livestock Investment Company (SALIC), a wholly owned subsidiary of Public Investment Fund of the Kingdom of Saudi Arabia, has invested US$1.24 billion for a 35.43% stake in Olam Agri. The investment crystallises a benchmark valuation of US$3.5 billion for Olam Agri, creates a strong shareholder base for a potential listing and demerger of Olam Agri, and catalyses access to new markets for Olam Agri through a strategic supply and cooperation agreement. Olam Group holds 64.57% of Olam Agri.
Concurrently, we are exploring various strategic options, including strategic partnerships to take the businesses of the Remaining Olam Group to full potential.
Important note: Shareholders and investors should note that there is no certainty or assurance that the proposed listing and demerger of ofi or the strategic options being explored will take place.