International Holding Company receives Colombian Superintendency of Finance’s approval to launch a tender offer for Grupo Nutresa

ABU DHABI, 19th October, 2022 (WAM) — The International Holding Company (ADX: IHC), one of the giant investment holding companies in the Middle East and Africa, headquartered in Abu Dhabi, has officially received the authorisation from the Colombian Superintendency of Finance (Superintendencia Financiera de Colombia) to its subsidiary, IHC Capital Holding, to launch a tender offer of approximately AED 10.2 billion (approx. USD 2.8 billion), for Colombian giant 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. Pursuant to this authorisation IHC Capital Holding LLC launched today, 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.

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