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Creditors extend deadline for Muzaffargarh unit’s sale transaction: ANL

Azgard Nine's sale of Muzaffargarh unit extended to March 31
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March 15, 2023 (MLN): Muzaffargarh Unit's Creditors' Scheme of Arrangement, which involves the sale of lands, plant, equipment, and installments, has been extended until June 30, 2023, Azgard Nine Limited (ANL) informed PSX on Wednesday through a notification. 

 This is due to certain unavoidable circumstances, according to the Agent Banks of the Creditors who are authorized to oversee the process.

The sale transaction was initially planned to be completed by a previous deadline, but due to the extension, interested parties will have more time to participate in the sale process.

This development will be closely watched by stakeholders and investors as it could have significant implications for the financial position of the Muzaffargarh Unit.

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Posted on: 2023-03-15T14:56:39+05:00