FFBL appoints advisors for Inner Mongolia acquisition proposal

MG News | October 04, 2018 at 03:29 PM GMT+05:00

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October 4, 2018 (MLN): Fauji Fertilizer Bin Qasim Limited (the company) has appointed three professional advisors to advise it on the matter of proposed transaction from Inner Mongolia Yili Industries Group Co. Limited, to acquire 51% shares and/or control of “Fauji Foods Limited”, from the company.

The company has appointed Lazard Saudi Arabia Limited as its Lead Financial Advisor, Riaz Ahmed and Company, Chartered Accountants as Joint Financial Advisor and Chima & Ibrahim as Legal Advisor, notified an official announcement issued to the PSX.

Previously on July 31^st 2018, the company issued an official statement to PSX, disclosing that the potential acquirer, Inner Mongolia Yili Industrial Group Company had approached them, expressing their intention to acquire up to 51% of voting shares and /or control in FFBL’s subsidiary, Fauji foods Limited from the company and other shareholders.

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