Engro Holdings receives letter on EEAP divestment

MG News | January 29, 2025 at 09:27 AM GMT+05:00

0:00

January 29, 2025 (MLN): Engro Holdings Limited (PSX: ENGROH) has received a letter from Engro Corporation Limited, dated January 28, 2025.

The letter concerns the divestment of Engro Eximp Agriproducts (Private) Limited, which is a wholly owned subsidiary of ENGROH, the company's filing on PSX revealed today.

The Board of ECORP has given the Company permission to enter into a Share Purchase Agreement ("SPA") to sell EEAP, referred to as the "Transaction."

A SPA has been executed with MAP Rice Mills (Private) Limited (Acquirer) for a transaction valued at Rs2.4 billion on a debt-free and cash-free basis.

The Acquirer is affiliated with the Bestway Group.

The completion of the Transaction depends on conditions outlined in the SPA, including obtaining corporate and regulatory approvals.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	162,994.17 366.14M	-1.71% -2829.70
ALLSHR	97,525.91 833.18M	-1.65% -1634.99
KSE30	49,090.22 171.05M	-2.02% -1011.73
KMI30	234,097.76 141.71M	-1.92% -4583.61
KMIALLSHR	63,284.58 381.76M	-1.79% -1151.00
BKTi	45,458.10 90.77M	-1.53% -707.82
OGTi	33,162.89 14.24M	-2.82% -962.44

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	76,345.00	76,715.00 75,655.00	570.00 0.75%
BRENT CRUDE	110.39	114.70 109.63	-0.05 -0.05%
RICHARDS BAY COAL MONTHLY	113.00	0.00 0.00	-1.30 -1.14%
ROTTERDAM COAL MONTHLY	112.00	112.00 110.05	1.55 1.40%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	106.71	110.93 106.20	-0.17 -0.16%
SUGAR #11 WORLD	14.68	14.85 14.66	-0.09 -0.61%