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Olam To Lower Its Debt by $2bn From Stake Sale’s Proceeds
April 15, 2025
Singaporean food conglomerate Olam Group, announced that it will use $2bn of proceeds from its stake sale in its agri-business unit, Olam Agri, to repay its debt. This move aims to make the company “debt-free and self-sustaining”, according to an emailed statement. The stake was sold to Saudi Agricultural & Livestock Investment Co. for $2.58bn. Olam will also invest $500mn into its ingredients arm, ofi, ahead of a planned dual listing in Europe and Singapore. The company is undergoing restructuring, led by CEO Sunny Verghese, and plans to eventually divest remaining assets and return proceeds to shareholders through special dividends.
Olam’s bonds traded stable with its S$ 4% 2026s at 99.7, yielding 4.37%.
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