FFBL approves investment in Fauji Foods not exceeding Rs 3.5 billion

MG News | November 25, 2020 at 03:40 PM GMT+05:00

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November 25, 2020 (MLN): The Shareholders of Fauji Fertilizer Bin Qasim Limited (FFBL) in Extra General Meeting held today, have authorized the company to invest, provide and continue sponsor support to Fauji Foods Limited (FFL) the amount not exceeding in the range of Rs 3,500,000,000.

This investment will be made through either, or a combination of a subordinated shareholder loan or collateral support for a period not exceeding one year as security.

Moreover, shareholders also authorized the Company for provision of collateral support to FFL in respect of the PKR 6.067 billion long term finance facility for the duration of the long term loan to be availed by FFL.

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