ACPL shareholders approve 50% share sale of Saqr Al-Keetan

MG News | May 25, 2023 at 04:05 PM GMT+05:00

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May 25, 2023 (MLN): The shareholders of Attock Cement Pakistan Limited (ACPL) on Thursday authorized the selling of 18 million shares, representing 50% of the entire share capital of Saqr Al-Keetan for Cement Production Company Limited.

The company will be sold to two buyers i.e., Mr. Abdul Lateef Mohsin Al Geetan an Iraqi national, and Lamassu Babylon General Trading Company, a company incorporated under the laws of Dubai, UAE.

Both parties have purchased 50% of the sale shares 9mn shares against a sale consideration of $11.7mn each (collectively, the 'Sale Price') in accordance with the terms of the Share Purchase Agreement.

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