Abu Dhabi – Mubasher: IHC Food Holding, a wholly-owned subsidiary of International Holding Company (IHC), will acquire a 25% stake in Invictus Trading, an entity in Jebel Ali Free Zone (JAFZA).

Subject to the regulatory approvals and completion of legal formalities, the transaction will be completed through one of IHC Food Holding's subsidiaries, according to a bourse filing on Wednesday.

Established in February 2014, Invictus Trading initially met the raw material needs of the largest manufacturing conglomerate in Sudan, DAL Group.

The company has been developed into a trading company, specialising in various commodities, agri-food, and finished goods trading business across Africa, Middle East, and Asia.

It is noteworthy to mention that in the first quarter (Q1) of 2022, the net profits attributable to the owners of IHC hiked to AED 1.60 billion from AED 1.33 billion in the same period of 2021.