Abu Dhabi –  IHC Capital Holding LLC, a subsidiary of International Holding Company (IHC), signed a share swap agreement with Grupo de lnversiones Suramericana (Grupo Sura), Grupo Nutresa, and Grupo Argos.

According to a bourse disclosure, IHC Capital Holding will receive a 2.45% stake in Colombian packaged foods giant Grupo Nutresa in exchange for its 1.64% equity in Grupo Sura.

In this regard, "Argos and Sura will launch a tender offer (TO), whereas any shares purchased through the TO in excess of 46.22 million by Sura and Argos shall be repurchased by IHC in cash, in USD, at a price of $12 per share.”

The UAE company is currently fulfilling all required procedures, including obtaining all needed corporate and regulatory approvals to implement the signed transactions.

Earlier this month, IHC’s unit Emirates Stallions Group partnered with Q Holding to establish a joint venture (JV) project at a total value of AED 320 million.

In the first quarter (Q1) of 2023, IHC generated net profits attributable to the owners amounting to AED 2.61 billion, an annual jump from AED 1.60 billion.

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