Abu Dhabi-listed Ghitha Holding, a trading and distribution firm under IHC, has expanded its stake in Al Ain Farms for Livestock Production, according to a disclosure on Friday.

The company has just acquired an additional 12% shares in Al Ain Farms for AED 61 million ($16.6 million), it said in a filing on the Abu Dhabi Securities Exchange (ADX).

The investment is done through Ghitha’s subsidiary, Was Commercial Investment.

The additional stake will expand Was Commercial’s shareholding in Al Ain Farms to more than 60%. As of July 2023, the Ghitha unit owns 51% of Al Ain Farms, according to a document on ADX.

Ghitha’s portfolio of subsidiaries consist of Al Ajban Poultry, Alliance Food Company, Zee Stores International, Royal Horizon and Al Jaraf Fisheries, among others.

It deals with more than 10,000 products imported from the US, Thailand, Brazil, Saudi Arabia and Oman, according to its website.

(Writing by Cleofe Maceda; editing by Seban Scaria) 
seban.scaria@laeg.com