Abu Dhabi - Mubasher: International Holding Company has received the Colombian Superintendency of Finance’s authorisation to its subsidiary, IHC Capital Holding, to launch a tender offer for Grupo Nutresa of around AED 10.20 billion (approx. $2.8 billion).
Grupo Nutresa is a Colombian giant food-processing conglomerate headquartered in Medellín, Colombia.
The move comes as part of IHC's long-term investment and development plan in South America, choosing Colombia for the site of its new base in the Latin continent, according to a recent press release.
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.
“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 18th, 2022,” said IHC’s Head of Marketing and Corporate Communication, Ahmad Ibrahim.
In 2021, the food-processing company was acknowledged as the most sustainable food company in the world, according to the 2021 Dow Jones Sustainability Indices.
