Engro Corporation to sell some thermal energy assets

MG News | September 28, 2023 at 03:18 PM GMT+05:00

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September 28, 2023 (MLN): Engro Corporation Limited (PSX: ENGRO) has entered into an in-principle understanding with a potential acquirer for the proposed divestment of its select thermal energy assets by way of a scheme of arrangement, as per the company's latest filing on the PSX today.

The aforementioned assets are held through its wholly-owned subsidiary, Engro Energy Limited.

The consummation of the proposed transaction is subject to detailed due diligence, execution of definitive documents, and receipt of regulatory and third-party approvals and consents.

“In case of any further material development, the Company shall keep PSX informed accordingly.” It added.

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