James Emejo in Abuja and Dike Onwuamaeze in Lagos
Saudi Agriculture and Livestock Investment Company (SALIC) is set to acquire 44.58 per cent stake in Olam Agri for $1.78 billion in the first tranche of the deal.
The agreement announced in a joint statement, added that upon completion of tranche 1, SALIC would own a controlling 80.01 percent stake in Olam Agri.