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GlobeNewswire·

Ingredion Completes Sale of Majority Equity Stake in Pakistan Business

  • Ingredion completed the sale of a 51% interest in Rafhan Maize to a group led by Nishat Hotels & Properties Ltd.
  • The transaction closed on June 30, 2026, with a purchase price of approximately $165 million.
  • Ingredion retains an approximate 20% ownership stake in Rafhan Maize post-close.
  • Nishat is a major Lahore-based operator with established presence in agriculture, textiles, banking, & hospitality sectors.
  • The deal was originally announced on September 29, 2025.
  • Ingredion's Pakistan business generated approximately $250 million in net sales for the full year 2025.
  • CEO Jim Zallie stated the transaction reduces earnings volatility & unlocks capital for higher-growth businesses.
  • Retaining a minority stake ensures continued access to Middle East & South Asia markets as long-term growth platforms.