Olam advances 32.4% stake sale of port operator following key lender approvals
[SINGAPORE] Olam Group said it has “made progress” in securing approvals from different lenders to Arise P&L for the proposed divestment of its 32.4 per cent stake in the port and logistics operator.
In April 2025, the agribusiness giant entered a conditional sale and purchase agreement with Dubai-based investment platform Equitane DMCC. Under the deal, Olam will dispose of its stake in Arise P&L for a US$175 million consideration. This amounts to 161.1 million ordinary shares, or around 32.4 per cent of Arise P&L’s issued and paid-up share capital.
After the sale, which was expected to be completed by end-2025, Olam will not hold any shares of Arise P&L.
The company announced on Wednesday (Jan 14), before the market opened, that the lender’s approval is an “enabling step” to approach the shareholders of Arise P&L and the regulatory authorities for their approvals.
Olam said in a bourse filing that it intends to complete the proposed disposal “as soon as practicable upon the receipt of all the approvals”.
Arise P&L manages ports and logistics infrastructure projects in West Africa, including a mineral port and a general cargo port in Gabon and a bulk port in San Pedro, Cote d’Ivoire.
The divestment is part of Olam’s business reorganisation announced in 2025. This includes plans to divest and monetise assets and businesses of the remaining Olam group – one of its three business units.
Meanwhile, the group is in the process of divesting its Olam Agri unit to the Saudis, while growing its Olam Food Ingredients, or ofi, unit.
Shares of Olam were trading flat at S$0.94 as at 11.45 am on Wednesday.
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