Abu Dhabi conglomerate IHC buys 41% stake in food business NRTC

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DUBAI, Oct 7 (Reuters) - Abu Dhabi conglomerate International Holding Co (IHC.AD) has agreed to buy a 41% stake in Nassar Al Refaee Trading (NRTC) Company, a fruit and vegetable import-export business, in a 166 million dirhams ($45.20 million) deal, a company source said. The deal will be completed next week, said the source, adding it aligns with IHCs plans to strengthen its position in the food security sector. IHC, with a market capitalisation of about $73 billion, has reported surging earnings over the past year and a half, and its share price has more than tripled this year to 146.2 dirhams, as of Thursdays close.

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