Two of the UAE’s most prominent investment forces — Abu Dhabi’s International Holding Company and Emaar Properties founder Mohamed Alabbar — have expressed preliminary interest in acquiring all or part of Dubai-based food and consumer goods conglomerate IFFCO, according to people familiar with the matter.

The interest comes as IFFCO navigates court-supervised restructuring tied to roughly $2 billion in debt, positioning one of the country’s largest privately held manufacturing groups at the center of what could become a significant corporate transaction in the UAE this year.

Creditors Turn to Courts After Restructuring Talks Stall

IFFCO’s financial position deteriorated after attempts to reach a consensual debt restructuring agreement failed. Creditors filed insolvency petitions in the Isle of Man and Singapore, and have sought the appointment of restructuring specialists from FTI Consulting as provisional liquidators. The proceedings do not mean IFFCO has ceased operations — the company continues to run its business while the process plays out.

Alabbar confirmed to Bloomberg that he had sent letters to IFFCO’s board members and lending banks expressing interest in acquiring the whole business. IHC and IFFco’s lenders have not publicly commented, and discussions remain preliminary with no formal offers submitted.

IFFCO’s Strategic Value in UAE Food Security

Founded in 1975, IFFCO has grown into one of the region’s largest food and consumer products manufacturers, operating across approximately 50 countries. The company owns brands including London Dairy and operates across edible oils, food ingredients, consumer foods, packaging, chemicals, and logistics. IFFCO traces its origins to India’s Allana Group, established in 1865.

IFFCO’s manufacturing footprint and food production capabilities have made it an important participant in the UAE’s food supply chain and wider food security ecosystem — a priority area for the federal government.

High-Profile Suitors Signal Confidence

IHC, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, has expanded rapidly through investments across food, healthcare, infrastructure, technology, and energy, becoming one of the UAE’s most valuable listed firms. Alabbar, meanwhile, is the founder of Emaar Properties and a major shareholder in Americana Restaurants. He also co-founded regional e-commerce platform Noon.

The reported interest highlights the strategic value investors continue to see in large-scale food manufacturing businesses in the Gulf, even amid challenging market conditions. IFFCO’s assets could be worth several billion dollars, though any valuation will depend on the outcome of restructuring efforts.

No final decisions have been made, and there is no certainty that current discussions will result in a transaction. The future ownership of IFFCO is expected to become clearer as court proceedings progress and creditors evaluate options to maximise recoveries.

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