March 09, 2023 (MLN): Alpha Beta Core Solutions (Private) Limited has been appointed as the Manager to the Offer by Aykut Çalikusu, the Acquirer, to acquire over 51% of shares and control of Tri-Star Power Limited, the Target company.
This is in accordance with the Securities Act, 2015, and Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
The PAI is expected to be published in one English and one Urdu newspaper within two days, following the regulations and the act.
This announcement indicated the intention of the Acquirer to acquire a majority stake in Tri-Star Power Limited, which could lead to changes in the company's management and control.
Tri-Star Power Limited is a well-established company with a strong presence in the market, known for providing innovative solutions in the power sector. The acquisition of a controlling stake in Tri-Star Power Limited could result in significant developments in the power sector and could potentially bring in more investment to the company.
Aykut Çalikusu has a diversified experience of over twenty (20) years with core expertise in e-commerce with a focus on promoting premium, locally-sourced products to international markets more specifically the Arabian Gulf countries.
The company is passionate about environmental sustainability and is actively involved in projects for the development of clean energy solutions and enhancing the quality of healthcare.
The acquisition process will be closely monitored by the relevant regulatory authorities, and all legal and procedural requirements will be followed diligently.
Further updates on the acquisition process will be provided in due course.
