MFL receives non-binding offer from IGI Investments for 100% stake in Matco Corn Products

MG News | October 15, 2026 at 03:28 PM GMT+05:00

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October 15, 2026 (MLN): Matco Foods Ltd (PSX:MFL) has received a non-binding offer from IGI Investments (Private) Ltd to buy its entire shareholding in subsidiary Matco Corn Products (Private) Ltd,.

The offer covers 100% of the issued and paid-up ordinary share capital of the subsidiary. IGI Investments is a wholly owned subsidiary of IGI Holdings Ltd, and the two are together referred to as the potential acquirer.

The company’s board considered the offer on October 15, 2026 and resolved, through circulation, to authorise management to enter into discussions and negotiations with the potential acquirer on the proposed divestment.

Management has been directed to take its final determinations, including the proposed terms and conditions of the deal, to the board for formal review and approval.

Arif Habib Ltd has been appointed sell-side advisor for the transaction.

The company will make further disclosures in line with applicable laws and regulations as the deal progresses and material developments occur.

The aforementioned information was disseminated through a notification to Exchange.

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