Asia Pak Investments expands holdings with Bol Network acquisition

September 11, 2023 (MLN): Asia Pak Investments, a Hong Kong private equity firm, specializing in investments within Pakistan's infrastructure, industrials, transport, logistics, energy, and financial sectors, has made another significant acquisition.

The company has now taken control of Bol Network, Pakistan's leading media group, and introduced a new chairman to lead the way, said a press release issued by Bol.

It is worth mentioning that earlier this month, Asia Pak Investments successfully acquired a majority stake of 54% in K Electric, a significant milestone, as announced by Shehryar Chishti, the Head of AsiaPak Investments.

Asia Pak Investments continues to make substantial investments in Pakistan, demonstrating its commitment to the nation's growth and development.

This acquisition signifies a strategic move by Asia Pak Investments to diversify its portfolio and expand its influence in Pakistan's media landscape, setting the stage for exciting developments in the future.

Bol operates the leading news and entertainment channels for Pakistanis globally. Bol is unique among media groups to own its own studio production facilities.

It also operates market-leading media technology with global reach on multiple broadcast and digital platforms. Bol will remain headquartered in Karachi with a nationwide presence.

Sameer Chishty, the new chairman and CEO of Bol Network is a seasoned international technology investor in Asia and the Middle East.

He said, "Amazing progress is being made globally in digital technologies, artificial intelligence, and, telecommunications.”

“As a General Partner at SparkLabs Group investing in over 500 technology companies in different countries, I have seen first-hand the potential these technologies have in changing lives, transforming societies, growing economies,” he added.

Sameer Chishti also emphasized the new Bol Network's mission, saying “The new Bol Network promises powerful ways of generating and distributing content so we may all teach and we may all learn. We will empower users to engage their communities on issues important to them."

"Bol will enable Pakistanis to generate content in Bol studios captured by Bol cameras on Bol satellite TV and on global online social media assisted by Bol.” he further added.

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