Latest News | CCI Approves Deal Involving Stake Purchase in Olam Agri Holdings

New Delhi, Aug 30 (PTI) The Competition Commission of India (CCI) on Tuesday approved the acquisition of a 35.43 per cent stake in Olam Agri Holdings Pte Ltd by Saudi Arabia-based SALIC International Investment Company.

In a tweet on Tuesday, the CCI said it has approved the "acquisition of shares in Olam Agri Holdings by SALIC International".

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Under the deal, SALIC International Investment Company is acquiring a 35.42 per cent stake in Olam Agri Holdings Pte Ltd from Olam Holdings Pte Ltd.

SALIC International Investment Company is a Saudi Arabian investment company while Olam Agri operates as a merchant and processor of agricultural goods.

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Deals beyond certain thresholds require approval from the CCI which keeps a tab on anti-competitive practices in the marketplace.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)