Abu Dhabi’s International Holding Company’s (IHC) subsidiary, IHC Capital Holding has received approval to launch a AED10.2 billion ($2.8 billion) tender for giant Colombian food-processing conglomerate, Grupo Nutresa.

 

The authorisation came from the Colombian Superintendency of Finance (Superintendencia Financiera de Colombia), a WAM report said.

 

Pursuant to this authorisation IHC Capital Holding launched a tender offer to acquire, a minimum of 25% and a maximum of 31.25% of the shareholding in Grupo Nutresa, headquartered in Medellín, Colombia.

 

Long-term strategy 

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 Latin America. 

 

“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 offer, November 18, 2022,” said Ahmad Ibrahim, IHC’s Head of Marketing and Corporate Communication.

 

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. 

 

Sustainability future vision

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 International Holding Company's sustainability future vision.

 

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