{"id":90673,"date":"2024-04-02T00:00:00","date_gmt":"2024-04-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/invictus-now-owns-60-of-moroccos-graderco\/"},"modified":"2024-04-02T00:00:00","modified_gmt":"2024-04-02T00:00:00","slug":"invictus-now-owns-60-of-moroccos-graderco","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/04\/02\/invictus-now-owns-60-of-moroccos-graderco\/","title":{"rendered":"Invictus now owns 60% of Morocco\u2019s Graderco"},"content":{"rendered":"

Invictus secures controlling stake in Graderco:<\/strong> Food and beverage giant Ghitha\u2019s trading subsidiary, Invictus Investment<\/a>, has completed its acquisition of a 60% stake in Zalar Holding's interests in Moroccan agriculture trading company Graderco and all its affiliated subsidiaries, according to a company disclosure to the ADX (pdf)<\/a>. <\/p>\n

Background:<\/strong> The closing of the acquisition comes a week after<\/a> Ghitha\u2019s board signed off on the stake purchase. The company had first announced plans to acquire the company in February as part of its push into North and East Africa.<\/p>\n

The financials:<\/strong> The value of the acquisition was not disclosed. However, Invictus expects the acquisition will help its revenue grow 20% in 2024, according to the statement.<\/p>\n

Invictus has its eyes on Africa expansion:<\/strong>The acquisition will help Invictus expand into African markets, forge partnerships, and strengthen operations, zoning in on key product categories to develop the company\u2019s portfolio. Invictus expanded into Morocco and new markets in 2023 such as Tanzania, Mozambique, Turkey, Malawi, Burundi, and Rwanda, while also boosting commodity transaction volumes in Algeria and Egypt.<\/p>\n

What\u2019s in it for Graderco?<\/strong> The Moroccan grain and cereal trader will be exposed to Invictus Investment's global network, trading expertise, and financial resources, the statement reads. Graderco handles 2.5-3.0 mn metric tonnes of grain annually, and constitutes over 25% of Morocco\u2019s imports for human and animal nutrition<\/p>\n

\n

OTHER M&A NEWS-<\/p>\n

DFM-listed Al Salam Bank is set to acquire 100% of Kuwait Finance House in <\/strong>Bahrain (KFH Bahrain) for an undisclosed amount<\/strong>, after inking a definitive agreement with KFH Bahrain\u2019s parent company, KFH Group, on Sunday, according to a DFM disclosure (pdf)<\/a>. The transaction is awaiting regulatory approval. <\/p>\n

Background:<\/strong>The Bahrain-based bank initiated discussions with KFH Group for the acquisition earlier in November 2023. The parties reached an agreement in February, after pausing talks the previous month due to a failure to reach mutually agreeable terms for the transaction. <\/p>\n","protected":false},"excerpt":{"rendered":"

The acquisition will help Invictus expand in African markets<\/p>\n","protected":false},"author":1,"featured_media":90674,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[383,7,1122,1431,1342,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90673","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-al-salam-bank","tag-enterpriseam-uae","tag-fb","tag-ghitha","tag-investment","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"577d2e64-1b65-4196-b5f3-0e2d3e5c6709","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/59.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Invictus now owns 60% of Morocco\u2019s Graderco","related_issue":[90662],"teaser":"The acquisition will help Invictus expand in African markets","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.b0a16fb6-4d62-4417-a20a-1cdd24f7e4fa.mp3"},"yoast_head":"\nInvictus now owns 60% of Morocco\u2019s Graderco - 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