Bela Automotives receives Rs14.5m takeover bid

MG News | December 28, 2023 at 02:40 PM GMT+05:00

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December 28, 2023 (MLN): Bela Automotives Limited (PSX: BELA) has received firm intention from a prospective investor to acquire control of 2.9 million voting shares, i.e. 50% of paid-up capital of the company at Rs5 each, the company's filing on the PSX showed today.

Amir Noman, the investor, has started negotiations to induct people for acquiring control of Bela Automotives Limited.

The Director/Chief Executive and majority shareholder of the Bela Automotives Limited has informed that they individually or in consent with each other are entering into negotiations for the sale of their shareholding beyond the limits prescribed in section 111 of the Act, the notice said.

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