Nishat Mills to divest entire stake in Nishat Sutas Dairy

August 19, 2026 (MLN): Nishat Mills Limited (PSX:NML) has decided to exit its investment in Nishat Sutas Dairy Limited (NSDL), an associated company established as a joint venture with Sütaş Süt Ürünleri A.Ş., Türkiye, citing prevailing market and regulatory conditions affecting the dairy industry and the consequent strain on NSDL's financial position.

The Board approved the proposed divestment of its entire 49.10% shareholding in NSDL to its joint venture partner, Sutas, at a proposed consideration of Rs5 per share, subject to shareholder approval and completion of all requisite legal and regulatory formalities, including execution of definitive transaction agreements.

Sutas, described as a leading international dairy company, has expressed its willingness to acquire and continue operating NSDL, subject to execution of the definitive agreements and completion of applicable approvals.

The Company noted that the transaction would also encourage continued participation of foreign investors in Pakistan's economy and demonstrates the ongoing commitment of a foreign strategic investor to the country's dairy sector.

The information was disseminated through a notification to the Exchange.

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