Fauji Fertilizer approaches FFBL with non-binding LOI to acquire shares in Foundation Wind Energy

By MG News | April 02, 2021 at 03:29 PM GMT+05:00

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April 02, 2021(MLN): Fauji Fertilizer Bin Qasim Limited (FFBL) has informed via notification to Exchange that the company has been approached by Fauji Fertilizer Company Limited (FFC) with a non-binding Letter of Intent for the contemplated acquisition of FFBL's shareholding in Foundation Wind Energy - I and Foundation Wind Energy - II (public unlisted companies).

As per the notice, the non-binding Letter of Intent is subject to negotiation and execution of definitive documentation, completion of procedural formalities and requisite corporate approvals and relevant Regulatory Authorities.

FFBL will keep the exchange informed of material developments as and when definitive documentation is agreed and executed, the notice said.

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