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Al Babtain Food sells stake in Chocolate Lake
Alababetin Food Company announced the signing of an agreement to sell its entire 3% stake in Jordanian Chocolate Lake Company, as part of an acquisition deal led by Indulgent Food International focused on purchasing 70% of the company's capital. The target company's equity was valued at $171 million. The deal includes mechanisms for determining the final payment, which will depend on the company's financial performance during 2027 and 2028, with $5 million held as guarantees. The transaction is subject to regulatory approvals and the completion of legal procedures. This divestment aligns with the company's strategy to strengthen its financial position and to focus its investments on its core activities.
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