Singapore-based Olam Group VC2 ; is close to announcing a deal to sell the remainder of its stake in its agricultural products business to the state-owned Saudi Agricultural and Livestock Investment Company, people familiar with the situation said.
The negotiations are in advanced stages, and people said a potential deal to sell the Olam Agri business could be announced by the end of this month or early February. Olam Group declined to comment but referenced a previous announcement made in November, in which it said it had received a nonbinding offer from Saudi Agricultural and Livestock Investment Company, or Salic, for its agricultural products business.
Source: WSJ