SG briefs: Olam Group and Olam Agri

Wheat and flour. Photo by Immo Wegmann on UnsplashWheat and flour. Photo by Immo Wegmann on Unsplash

Olam Group said Monday all three resolutions passed with more than 99 percent of the vote at its extraordinary general meeting (EGM).

One resolution was to approve the sale of a 35.4 percent stake in Olam Agri to Saudi Agricultural and Livestock Investment Co. (SALIC), which is wholly owned by the Public Investment Fund of the Kingdom of Saudi Arabia (KSA), for US$1.24 billion. A second resolution was to approve the potential sale of an additional stake in Olam Agri. The third resolution was for a share buyback mandate.