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Olam signs definitive agreements to divest remaining stakes in ARISE IIP and ARISE IS for $253.8 mil

Felicia Tan
Felicia Tan2/12/2022 01:29 AM GMT+08  • 2 min read
Olam signs definitive agreements to divest remaining stakes in ARISE IIP and ARISE IS for $253.8 mil
Shares in Olam closed flat at $1.79 on Feb 11.
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Olam International has entered into definitive agreements with Africa Transformation and Industrialization Fund, a management-led buy-out group for the sale of its remaining equity stakes in ARISE Integrated Industrial Platforms (ARISE IIP) and ARISE Infrastructure Services (ARISE IS).

The remaining stakes were sold for a consideration of US$189 million ($253.8 million). The consideration took into account the performance of the business in 2020 and 2021 as well as relevant precedent transactions for the assets.

ARISE IIP and ARISE IS are part of the ARISE group, which is a leading, pan-African infrastructure and logistics player. The group operates operating under three distinct verticals – ARISE IIP, ARISE IS and ARISE Ports & Logistics (ARISE P&L).

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