Sunny Verghese, CEO of Olam Group.
Shares of Olam Group—cofounded by Singaporean tycoon Sunny Verghese—surged on Friday after a state-owned Saudi investment firm made an offer to buy the Singapore-listed company’s agribusiness unit.
Olam said it is considering the non-binding indicative offer made by the Saudi Agricultural and Livestock Investment Company (Salic) for its stake in Olam Agri Holdings. Its shares gained 13% to S$1.21 ($0.91) in afternoon trading in Singapore,........