Ingredion Sells Majority Stake in Rafhan Maize
End of Quarter Sale - 70% Off
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Ingredion ( (INGR) ) has issued an announcement.
On June 30, 2026, Ingredion completed the sale of 51% of the issued share capital of Rafhan Maize Products Co. Ltd. to a purchaser group led by Nishat Hotels and Properties Limited, affiliates of Pakistan’s diversified Nishat Group. Ingredion received approximately $165 million in cash for its stake, while the purchaser group in total acquired about 78% of Rafhan Maize, which generated around $250 million in net sales in 2025.
Following the transaction, Ingredion retains an approximately 20% minority interest in Rafhan Maize under a shareholders agreement that includes a put option exercisable starting in the fifth year after closing. Ancillary commercial agreements, including manufacturing, supply and distribution arrangements, ensure ongoing product flows between Rafhan Maize and Ingredion affiliates, preserving commercial ties and market access in Pakistan despite the reduced ownership stake.
The most recent analyst rating on (INGR) stock is a Hold
with a $120.00 price target.
To see the full list of analyst forecasts on Ingredion stock,
see the INGR Stock Forecast page.
Spark’s Take on INGR Stock
According to Spark, TipRanks’ AI Analyst, INGR is a Neutral.
INGR scores as a moderately attractive setup: strong profitability and a healthier balance sheet, plus compelling valuation (low P/E and solid dividend), are the main supports. The biggest constraints are weak price momentum/technical trend and a cautious near-term outlook from the earnings call driven by Argo disruption, margin pressure, and reduced guidance; M&A adds longer-term strategic upside but also integration and leverage risk.
To see Spark’s full report on INGR stock,
click here.
More about Ingredion
Ingredion Incorporated is a global ingredients solutions provider serving the food, beverage, industrial and related sectors, with a portfolio that includes starches, sweeteners and specialty ingredients. Through its stake in Rafhan Maize Products Co. Ltd. in Pakistan, the company has participated in the manufacture and sale of industrial starches, liquid glucose, dextrose, dextrin, gluten meals and related products, supporting its presence in emerging markets.
Average Trading Volume: 837,384
Technical Sentiment Signal: Hold
Current Market Cap: $6.15B
See more insights into INGR stock on TipRanks’ Stock Analysis page.
