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WESTCHESTER, Ill. - Ingredion Incorporated (NYSE:INGR), currently trading near its 52-week low with a "GREAT" financial health score according to InvestingPro, announced Monday it has signed a conditional agreement to sell a 51% ownership stake in Rafhan Maize to Pakistan-based Nishat Hotels and Properties Ltd.
The food and beverage ingredient solutions provider will retain a 20% ownership interest in the business following the transaction. Financial terms of the deal were not disclosed.
The sale is contingent on Nishat Hotels securing international financing, according to the company’s statement. The transaction is expected to close in the first half of 2026, subject to regulatory approvals and other customary closing conditions.
Ingredion, headquartered in the Chicago suburbs, reported annual net sales of approximately $7.4 billion in 2024. The company converts grains, fruits, vegetables and other plant-based materials into ingredient solutions for various industries including food, beverage, animal nutrition, brewing and industrial markets.
The company operates innovation centers called Ingredion Idea Labs around the world and employs more than 11,000 people globally, serving customers in nearly 120 countries.
The announcement was made in a press release issued by Ingredion.
In other recent news, Ingredion Incorporated reported its second-quarter earnings for 2025, showing mixed results. The company exceeded earnings per share (EPS) expectations with a reported EPS of $2.87, surpassing the forecast of $2.80. However, revenue for the quarter was $1.8 billion, falling short of the anticipated $1.89 billion. In a strategic move, Ingredion announced a conditional definitive agreement to sell a 51% stake in its Pakistan affiliate, Rafhan Maize Products Co. Ltd., to the Nishat Group, while retaining a 20% ownership. This transaction is contingent upon the Nishat Group securing international financing. Additionally, Ingredion has entered a new five-year, $1 billion revolving credit facility with JPMorgan Chase Bank and other lenders, replacing its previous credit agreement. UBS has maintained its Neutral rating and $144 price target on Ingredion, noting the company’s focus on innovation and operational excellence. These developments reflect Ingredion’s ongoing strategic adjustments and financial maneuvers.
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