FFBL to explore the possibility of divesting its shareholding in Foundation Wind Energy

MG News | October 27, 2020 at 02:27 PM GMT+05:00

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October 27, 2020 (MNL): The Board of Directors of Fauji Fertilizer Bin Qasim Limited has taken an in-principle decision to enter into discussions with potential acquirers to explore the possibility of divesting FFBL’s shareholding in Foundation Wind Energy-l and Foundation Wind Energy-ll (public unlisted companies).

In connection therewith, FFBL management is authorized to share due to diligence information with potential acquirers (either itself or through the target entities) subject to execution of confidentiality/non-disclosure agreement, engage transaction advisers and enter into discussions/negotiations with potential acquirers.

The foregoing remains subject to completion of due diligence, execution of definitive agreements receipt of regulatory approvals, and the final decision of the Board of Directors/Shareholders of FFBL.

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