UAE’s IHC offers $2.8bn to acquire stakes in Colombian food giant Grupo Nutresa

By Arya M Nair, Official Reporter
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Grupo Nutresa
Image Courtesy; Grupo Nutresa

The International Holding Company (IHC), UAE-based investment giant, has officially received the authorization from the Colombian Superintendency of Finance for its subsidiary, IHC Capital Holding, to launch a tender offer of around $2.8 billion, for Colombian food-processing conglomerate, Grupo Nutresa.

The move comes as part of IHC’s long-term investment and development plan in South America, selecting Colombia for the site of its new base in the Latin continent. Under this authorization, IHC Capital Holding will acquire a minimum of 25 percent and a maximum of 31.25 percent of the shareholding in Grupo Nutresa, headquartered in Medellín.

Mr. Ahmad Ibrahim, IHC’s Head of Marketing and Corporate Communication said that “The process has been smooth and entirely transparent. We are delighted that we have received the authority’s confirmation to launch our tender, we will continue to work with the local authority over the coming weeks as this is still a work in progress, and the results of the tender will be known by the end of the acceptance period of the tender.”

Last year, the food-processing company was acknowledged as the most sustainable food company in the world, according to the 2021 Dow Jones Sustainability Indices. The Dow Jones Sustainability Indices consist of indicators that aggregate the companies with the best economic, social, and environmental performances, which is in line with IHC’s sustainability future vision.

The ranking is run by S&P Global Ratings, one of the most important credit rating agencies globally, along with Moody’s Investors Service and Fitch Ratings.

Related: UAE’s IHC forays into Latin America with $200mn investment in Lulo Colombia