Ingredion Announces Conditional Sale of Equity in Rafhan Maize

Rhea-AI Summary

Ingredion (NYSE:INGR) has announced a conditional agreement to sell a 51% ownership stake in Rafhan Maize to Nishat Hotels and Properties Ltd., based in Lahore, Pakistan. Following the transaction, Ingredion will maintain a 20% ownership interest in Rafhan Maize.

The deal's completion is contingent upon securing international financing and is anticipated to close in H1 2026, subject to regulatory approvals and other customary closing conditions.

Positive

• Strategic divestment of majority stake while maintaining meaningful ownership position
• Potential to unlock value from Pakistani operations

Negative

• Deal completion depends on securing international financing
• Extended timeline until H1 2026 for closing

News Market Reaction – INGR

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Data tracked by StockTitan Argus on the day of publication.

WESTCHESTER, Ill., Sept. 29, 2025 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage industry, today announced that it has signed a conditional agreement to sell a 51% ownership interest in Rafhan Maize to Nishat Hotels and Properties Ltd., located in Lahore, Pakistan. Ingredion will retain a 20% ownership interest in Rafhan Maize. The sale is conditional pending the arrangement of international financing.

The transaction is expected to close in the first half of 2026, subject to regulatory approvals and satisfaction of other customary closing conditions.

About Ingredion
Ingredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in nearly 120 countries. With 2024 annual net sales of approximately $7.4 billion, the Company turns grains, fruits, vegetables, and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs^® innovation centers located around the world and more than 11,000 employees, the Company cocreates with customers and fulfills its purpose of bringing the potential of people, nature, and technology together to make life better. Visit ingredion.com for more information and the latest Company news.

CONTACTS:
Investors: Noah Weiss, 773-896-5242
Media: Rick Wion, 708-209-6323

FAQ

What percentage of Rafhan Maize is Ingredion selling to Nishat Hotels and Properties?

Ingredion is selling a 51% ownership stake in Rafhan Maize, while retaining a 20% ownership interest.

When is the Ingredion-Rafhan Maize deal expected to close?

The transaction is expected to close in the first half of 2026, subject to regulatory approvals and financing conditions.

Who is buying Ingredion's stake in Rafhan Maize?

Nishat Hotels and Properties Ltd., located in Lahore, Pakistan, is purchasing the 51% ownership stake in Rafhan Maize.

What conditions need to be met for the INGR-Rafhan Maize deal to close?

The deal requires arrangement of international financing, regulatory approvals, and satisfaction of other customary closing conditions.