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IHC Capital Holding, a subsidiary of Abu Dhabi International Holding Company (IHC), has received approval to buy Colombian food processing giant Grupo Nutresa for AED 10.2 billion ($2.8 billion).
The WAM report said the authorization came from the Superintendencia Financiera de Colombia (Superintendencia Financiera de Colombia).
Pursuant to the mandate, IHC Capital Holding launched an offer to acquire at least 25% and up to 31.25% of the shares of Medellin, Colombia-based Grupo Nutresa.
long-term strategy
The move is part of IHC’s long-term investment and development plan in South America, choosing Colombia as its new base in Latin America.
“The whole process was smooth and fully transparent. We are delighted to have received confirmation from the authorities to initiate our tender and we will continue to work with the local authorities in the coming weeks as this is still a work in progress and the results of the tender will be announced at the end of the year with the acceptance of the takeover offer The period is November 18, 2022,” said Ahmad Ibrahim, Head of Marketing and Corporate Communications at IHC.
Last year, the food processing company was recognized as the most sustainable food company in the world, according to the 2021 Dow Jones Sustainability Index.
sustainable future vision
The Dow Jones Sustainability Indices are composed of indicators that combine economic, social and environmental top performers, aligned with the international holding company’s vision for a sustainable future.
The ranking is provided by Standard & Poor’s Global Ratings, one of the world’s foremost credit rating agencies, in conjunction with Moody’s Investors Service and Fitch Ratings. arab trade news agency
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