Nishat Mills secures approval to sell 49% Nishat Sutas Dairy stake for Rs2bn

September 23, 2026 (MLN): Pakistan Stock Exchange-listed Nishat Mills Limited (PSX: NML) has secured shareholder approval to divest its entire shareholding in associated company Nishat Sutas Dairy Limited (NSDL) to Turkish dairy firm Sütaş Süt Ürünleri A.Ş.

The special resolution was passed at an Extraordinary General Meeting held on September 23, 2026 at Emporium Mall, The Nishat Hotel, Trade and Finance Centre Block, near Expo Centre, Abdul Haq Road, Johar Town, Lahore.

Under the resolution, NML will dispose of 409,673,410 ordinary shares in NSDL, representing approximately 49.10% of NSDL's total issued and paid-up share capital, to Sütaş, a company incorporated in the Republic of Türkiye. The shares will be sold at a price of Rs5 per share, aggregating to a total consideration of Rs2.048bn.

The transaction remains subject to the receipt of all requisite regulatory approvals. Shareholders also authorized the Chief Executive Officer and/or the Company Secretary, jointly or severally, to execute all necessary documents and agreements, including the Share Sale and Purchase Agreement and ancillary transfer documentation, and to take all steps required to give effect to the resolution, including filings with the Registrar of Companies and the Securities and Exchange Commission of Pakistan.

The aforementioned information was disseminated through a notification to Exchange.

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