ABU DHABI: Multiply Group PJSC has completed its acquisition of a majority stake in Ghitha Holding PJSC from International Holding Company PJSC (IHC), the companies announced Thursday.
The transaction follows IHC’s general assembly meeting on Nov. 12, where shareholders approved the sale of all shares held in Ghitha by two IHC subsidiaries. IHC Food Holding LLC transferred 201,781,800 shares, representing 83.52% of Ghitha’s capital, while IHC Companies Management LLC sold 1,000,000 shares, or 0.4141%.
In exchange, Multiply Group issued new shares to IHC, finalizing the deal after completing regulatory procedures.
The acquisition strengthens Multiply Group’s position in the food and agribusiness sector, aligning with its strategy to expand across high-growth verticals.