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مباشر
Al Babtain Food Group sells stake in Chocolate Lake Jordan
Alabhatain Food Company announced the signing of an agreement to sell its entire stake in Jordanian Chocolate Lake Company, which specializes in manufacturing chocolates and sweets. This deal is part of an acquisition led by Indulgent Food International Holding Company Ltd to purchase 70% of the company's capital. The stake being sold amounts to 3% of Chocolate Lake's capital, and the company’s pre-adjustment valuation is estimated at approximately $171 million. The final valuation will be determined after accounting for financial adjustments and transaction-related costs. The agreement also includes an additional performance-based payment linked to the company's financial results during 2027 and 2028, along with a holdback of $5 million to secure future guarantees. This move aligns with Alabhatain's strategy to strengthen its financial position and focus on its core activities, with the transaction expected to be completed after meeting regulatory and legislative conditions.
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