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).
Upon the completion of the divestment, Olam will fully exit its investments in ARISE IIP and ARISE IS.
Its remaining investment in the group is a minority 32.4% stake in ARISE P&L.
According to Olam, the transaction is in line with its 2019-2024 strategic plan and its reorganisation plan announced in January 2020.
See also: Olam disposes its remaining 32.4% stake in Arise P&L
“This represents a significant step in achieving the objective of extracting full value from its investments in infrastructure and logistics projects in Africa through the complete sale of its equity stakes in the three ARISE verticals to strategic or financial investors,” says Olam in its Feb 11 statement.
The transaction is expected to close in the second quarter of 2022. It’s not expected to have a material impact on Olam’s earnings for the current FY.
Shares in Olam closed flat at $1.79 on Feb 11.
Photo: Olam
