DivestmentJun 30, 2026, 06:51 AM
Ingredion Completes $165M Sale of 51% Stake in Rafhan Maize
AI Summary
Ingredion Incorporated announced the completion of the previously disclosed sale of a 51% stake in its Pakistan-based subsidiary, Rafhan Maize Products Co. Ltd., to a group led by Nishat Hotels and Properties Limited. The transaction generated approximately $165 million in cash for Ingredion. Despite the sale, Ingredion will retain a 20% minority ownership interest in Rafhan Maize and has entered into a shareholders agreement with a put option, along with commercial agreements for continued manufacturing, supply, and distribution.
Key Highlights
- Ingredion completed the sale of 51% of Rafhan Maize Products Co. Ltd.
- Aggregate consideration received was approximately $165 million in cash.
- Rafhan Maize generated approximately $250 million in net sales in 2025.
- Ingredion retains an approximately 20% minority ownership interest in Rafhan Maize.
- A shareholders agreement includes a put option exercisable after five years.
- Ancillary agreements include manufacturing, supply, and distribution deals.
Price Impact
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