The UAE International Holding Company, IHC, made an offer to buy a 25% stake to 31.25% of the Colombian food company Nutrica at $15 per share, a significant premium over the last closing of the share.
According to Arab Net, Global Holding, led by the ruling family in Abu Dhabi, entered into a partnership with billionaire Jaime Gilinsky, in his offer to buy a large part of the Colombian food maker Nutresa for $2.15 billion.
IHC is the largest Emirati company by market value and is headed by Sheikh Tahnoun bin Zayed Al Nahyan, the UAE's national security advisor and brother of the country's president, according to Bloomberg.
Gilinsky's company has spent more than $2 billion to buy stakes in Nutresa and other companies in a consortium known as Grupo Empresarial Antioqueno, or GEA.
But the billionaire eventually refused to buy shares in Nutresa after his bid was too low.
Nutrisa's GDRs closed at $10 on Tuesday.
Its shares closed at 36,980 pesos ($8.36), valuing the company at $3.83 billion.
It is noteworthy that the company's largest shareholders, Grupo de Inversiones Suramericana and Grupo Argos, own a 45% stake in it.
International Holdings IHC plans to invest billions of dollars in markets including Colombia, its chief executive told Bloomberg last month.
At the time, he said, Global Holdings would target sectors such as food, infrastructure, and healthcare, with investments ranging from $1 billion to $5 billion, depending on the country and opportunity.
