CCL Holdings announces intent to acquire Mitchells Fruit Farms

MG News | November 13, 2024 at 12:18 PM GMT+05:00

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November 13, 2024 (MLN): CCL Holdings (Pvt.) Limited has submitted a Public Announcement of Intention to acquire voting shares and control of Mitchells Fruit Farms Limited (PSX: MFFL).

Arif Habib Limited (PSX: AHL), the appointed Manager of the Offer, informed market participants through a notice issued to the PSX today.

This follows an earlier disclosure by MFFL shareholders, collectively holding over 40% of the company’s issued share capital, indicating that they are evaluating various strategic options, including the potential divestment of their entire stake.

In light of this, the company said it will be preparing a data room to facilitate the shareholders for purposes of any diligence exercise that may be required in the context of the strategic review.

The aforementioned development has significantly boosted the food company's stock price, reaching the upper cap at Rs200.10.

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