AVN to acquire EmpiricAI Private Ltd
MG News | October 06, 2022 at 02:41 PM GMT+05:00
October 6, 2022 (MLN): Avanceon Limited (AVN) is planning to purchase EmpiricAI Private Ltd company under a share swap agreement, the company’s filings on the stock exchange showed on Thursday.
AVN in a notice to the PSX said that the “board has approved the acquisition of EmpiricAI Private Limited, wholly owned subsidiary of Dawood Hercules Corporation Limited, under a share swap arrangement, and has authorized the chief executive officer to enter into a share purchase agreement (SPA) with DAWH.”
Moreover, the entire shareholding of EmpiricAI Private Ltd shall be acquired in exchange for a certain percentage of shares of Octopus Digital Ltd – subsidiary of AVN as per the terms of SPA.
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