The Competition Commission of India (CCI) approves acquisition of shares in Olam Agri Holdings Pte. Ltd. by SALIC International Investment Company

The proposed combination pertains to acquisition of 35.43% stake in Olam Agri Holdings Pte. Ltd. (Olam Agri / Target) by SALIC International Investment Company (SIIC / Acquirer).

SIIC is an unlisted limited liability company based in Riyadh, Kingdom of Saudi Arabia. It is fully owned and controlled by Saudi Agricultural and Livestock Investment Corporation (SALIC). SALIC is a Saudi Arabian investment company, active in the agricultural and food industries with investments both in Saudi Arabia and other countries. SIIC has been established to hold SALIC’s international investments.

Olam Agri is a company incorporated and headquartered in Singapore and operates as a merchant and processor of agricultural goods. It is active throughout the entire value chain of agriculture - farming, procurement, wholesale trading, processing, refining and distributing. More particularly, Olam Agri, both directly and indirectly, undertakes sale of various agri-commodities, including rice in India, both at the wholesale and the retail level.

Detailed order of the CCI will follow.

Merger control clearance for foreign investor acquisition of stake in agricultural commodities trader, noting its rice sales in India. CCI approved the proposed acquisition by SALIC International Investment Company of a significant minority stake in Olam Agri Holdings Pte. Ltd.; SIIC is an unlisted Riyadh-based company owned by SALIC, and Olam Agri is a Singapore-headquartered merchant and processor engaged across the agricultural value chain, including wholesale and retail sale of rice in India.