FFBL likely to invest PKR 3.5 billion in Fauji Foods
MG News | November 03, 2020 at 04:35 PM GMT+05:00
0:00
November 3, 2020 (MLN): The Board of Directors of Fauji Fertilizer Bin Qasim has proposed to invest Rs. 3.5 billion in Fauji Foods Limited through either, or a combination of, a subordinated shareholder loan or collateral support for a period not exceeding one year as security for working capital facilities extended or to be extended by financial institutions to FFL.
The purpose of the proposed investment is to meet the working capital and operational expenses requirements of FFL, whose financial position does not allow it to meet such requirements out of its limited cash resources.
Further details of this proposed transaction can be accessed here.
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