Dawood Hercules to invest Rs. 17.45 billion in Edotco Pakistan

MG News | January 19, 2018 at 04:07 PM GMT+05:00

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Dawood Hercules (DAWH) today has decided to invest a sum of Rs. 17.45 billion in Edotco (Private) Pakistan Ltd. in from of equity or a short term loan.

In pursuance of the said approval, the company has decided to hold an Extra Ordinary General Meeting (EOGM) to approve and authorize the above mentioned transaction.

In August, 2017 Edotco Group in partnership with Dawood Hercules Corporation Ltd (DH Corp) announced the acquisition of approximately 13,000 towers from Pakistan Mobile Communications Limited (Jazz).

Edotco — through Tanzanite Tower Private Limited, a wholly owned subsidiary of edotco Pakistan Private Limited — entered into an agreement with Pakistan Mobile Communication Limited to acquire its tower subsidiary, Deodar Private Limited and its portfolio of over 13,000 tower assets, a press release said.

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