New Delhi, Sep 30 (PTI) Fair trade regulator CCI on Tuesday approved Saudi Arabia’s sovereign wealth fund PIF’s proposal to acquire a majority stake in Olam Agri Holdings Ltd.

Public Investment Fund (PIF), through its investment arm SALIC, is acquiring a stake in Olam Agri Holdings Ltd. PIF has assets under management of more than USD 925 billion.

“The proposed combination involves the acquisition of SALIC’s proposed indirect acquisition of 44.58 per cent and up to 64.57 per cent of the issued share capital of Olam Agri," the Competition Commission of India (CCI) said in a release.

Saudi Agricultural and Livestock Investment Company (SALIC) is focused on farming and procurement, as well as importing commodities into the Kingdom of Saudi Arabia.

It is present in India through LT Foods L

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