Abu Dhabi conglomerate International Holding Co has agreed to buy a 41% stake in Nassar Al Refaee Trading (NRTC) Company, a fruit and vegetable import-export business, in a 166 million dirhams ($45.20 million) deal, a company source said.
The deal will be completed next week, said the source, adding it aligns with IHC’s plans to strengthen its position in the food security sector.
IHC, with a market capitalisation of about $73 billion, has reported surging earnings over the past year and a half, and its share price has more than tripled this year to 146.2 dirhams, as of Thursday’s close.
Source: Reuters.com