Gillette Pakistan Board approves delisting from PSX

October 2, 2025 (MLN): In a major corporate development, Gillette Pakistan Limited has announced plans to wind up its operations in Pakistan, following a decision by its parent company, Procter & Gamble (P&G), to discontinue business in the country as part of a global restructuring program.

According to extracts from the minutes of the Board of Directors’ meeting held today, the board has formally approved preparatory and execution steps for an orderly closure of business in Pakistan.

This is subject to compliance with all legal and regulatory requirements.

In addition, Series Acquisition B.V., the holding company with over 90% shareholding in Gillette Pakistan, has expressed its intention to purchase the remaining listed shares and delist the company from the Pakistan Stock Exchange (PSX).

The board has authorized Chief Executive Officer Muhammad Fahad Saleem, Chief Financial Officer Muhammad Usman Danish, and Company Secretary Moosa Haroon to take all necessary actions for the delisting process, including coordinating with the PSX, CDC, and SECP, as well as engaging consultants, advisers, and valuers.

Under the voluntary delisting rules of PSX, a general meeting of shareholders will be convened within 30 days of agreement on the purchase price, to seek approval for the delisting through a special resolution.

The buyback of minority shares will take place at a price determined in line with the PSX Rule Book.

The move marks the end of Gillette’s decades-long presence in Pakistan, as the global consumer goods giant P&G reshapes its portfolio, supply chain, and organization to accelerate growth and value creation worldwide.

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