Abu Dhabi-based investment firm, International Holding Company (IHC) has acquired a 25 percent stake in Dubai-based international trading company Invictus Trading through one of its subsidiaries.
“The share will be purchased by IHC Food Holding through a subsidiary,” IHC said in a statement to the Abu Dhabi Securities Exchange (ADX), where its shares are traded.
The company further noted that the acquisition is subject to regulatory approvals and the completion of legal formalities.
Established in Jafza in 2014, Invictus Trading initially managed raw material import requirements for Sudan-based manufacturing conglomerate DAL Group. Since then, it has expanded operations, specializing in trading various commodities, agri-food, and finished goods across Africa, the Middle East, and Asia.
International Holding Company is focused on building a global ecosystem that fosters growth opportunities, technology, and innovation for the shareholders, companies, and the nation. IHC drives operational synergies and evaluates investment opportunities. The company serves clients worldwide.
The company’s expansion and diversification include interests in healthcare, real estate, agriculture, Food & Beverage, industries, IT and communications, retail and leisure, utilities, as well as capital.
Last month, the company completed a $2 billion (AED7.3 billion) investment transaction in the Adani Portfolio companies, Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL), and Adani Enterprises Limited (AEL).
IHC also committed to invest $50 million in Borouge’s $2bn initial public offering on the ADX, the biggest share sale on the exchange.
Earlier this year, IHC completed the acquisition of a 70 percent stake in the UK-based event structure and entertainment services business, Arena Events Group (Arena) for around $65 million.
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