AKD Securities to acquire 91% stake in Globe Textile Mills for OBS Pvt Ltd

MG News | July 17, 2018 at 03:31 PM GMT+05:00

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In a notification to the Pakistan Stock Exchange, AKD Securities Limited announced their intention to acquire 90.99% ordinary shares of Globe Textile Mills Limited, or about 14,891,829 shares on behalf of OBS Pakistan (private) Limited.

OBS Pakistan (private) Limited is a private company that intends to acquire the 90.99% stake in Globe Textile Mills Limited (Target Company), in affect taking control over the management as well.

OBS Pakistan (Private) Limited is in the business of providing services encompassing manufacturing, marketing and sales of pharmaceutical and consumer health products.

The ultimate controlling shareholders will be (1) Mr. Tariq Moinuddin Khan who is the CEO of the acquiring company, and (2) Mrs. Adeela Tariq Khan.

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