{"id":95299,"date":"2024-08-30T00:00:00","date_gmt":"2024-08-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/invictus-to-acquire-south-african-flour-milling-firm\/"},"modified":"2024-08-30T00:00:00","modified_gmt":"2024-08-30T00:00:00","slug":"invictus-to-acquire-south-african-flour-milling-firm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/08\/30\/invictus-to-acquire-south-african-flour-milling-firm\/","title":{"rendered":"Invictus to acquire South African flour milling firm"},"content":{"rendered":"

Invictus snaps up South African flour miller:<\/strong> Food and beverage giant Ghitha\u2019s trading subsidiary, Invictus Investment<\/a> inked an agreement to acquire an unnamed South Africa-based flour milling company, pending regulatory approvals, according to a press release (pdf)<\/a>. The details of the agreement, including the financial terms, have not been disclosed.<\/p>\n

REMEMBER-<\/strong> Earlier this month, Invictus\u2019 board greenlit a plan<\/a> to acquire a majority stake in an agro-food manufacturer in Africa. The company was set to submit a binding offer to close the transaction.<\/p>\n

What they said:<\/strong> \u201cThe acquisition contributes to our long-term strategy to expand our agro-food business in high-potential African markets, develop new strategic partnerships, and build on our operational capabilities in the midstream and downstream segments. It also brings us a step closer to our goal of becoming a fully integrated agro-food enterprise in the Middle East and Africa,\u201d CEO Amir Daoud Abdellatif said.<\/p>\n

ICYMI- Invictus is ramping up its investments in Africa: <\/strong>The company recently acquired a 60% stake<\/a> in Moroccan agriculture trader Graderco, as it looks to ramp up its acquisitions and JVs in North and East Africa, including in Morocco, Algeria, Kenya, Tanzania, and Mozambique.<\/p>\n

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

e& enterprise finalizes the acquisition of GlassHouse:<\/strong> Emirati telco e& subsidiary e& enterprise<\/a> completed the acquisition of 100% of Turkey-based cloud services provider GlassHouse<\/a> for USD 60 mn, according to an ADX disclosure (pdf)<\/a>. The acquisition marks e&\u2019s entry into Turkey\u2019s IT and cloud services market, and will see it leverage GlassHouse\u2019s services \u2014 including data backup, business continuity, managed cloud, and SAP Infrastructure \u2014 in the UAE and Saudi Arabia. <\/p>\n

Remember:<\/strong> The Emirati firm inked a binding agreement to acquire GlassHouse from Mediterra Capital and an individual shareholder in June<\/a>, with the transaction carried out through debt financing.<\/p>\n

This acquisition is the first milestone of an expansion plan: <\/strong>The company considers this transaction as a gateway for more investment opportunities across the region, including the UAE, Saudi Arabia, and Turkey, the disclosure said. <\/p>\n

Next steps: <\/strong>The financials of the Turkish company will be consolidated into e&\u2019s financials starting 1 September.<\/p>\n","protected":false},"excerpt":{"rendered":"

The acquisition comes as part of a strategy to expand its agro-food business in Africa<\/p>\n","protected":false},"author":1,"featured_media":95300,"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":[7,1431,1107,1344,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseam-uae","tag-ghitha","tag-invictus","tag-ma","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"d3310c4c-657a-4464-9326-085917a27c16","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/2624.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Invictus to acquire South African flour milling firm","related_issue":[95292],"teaser":"The acquisition comes as part of a strategy to expand its agro-food business in Africa","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.b8eaa254-6690-44e5-8c97-22ee0b32d6dd.mp3"},"yoast_head":"\nInvictus to acquire South African flour milling firm - 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