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Abu Dhabi

Conglomerate IHC buys 41% share of food business NRTC

Abu Dhabi conglomerate International Holding Co has committed to buy a 41% stake in the Nassar Al Refaee Trading Company, a fruit and vegetable import-export business, in $45.20 million deal that will be completed next week.

This corresponds IHC's plans to strengthen its position in the food security sector. IHC, with a market capitalization 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, as of Thursday's close.

Source: reuters.com


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