FFC approves acquisition of 100% shareholding of FWEL-I, 80% shareholding of FWEL-II

By MG News | July 27, 2021 at 02:59 PM GMT+05:00

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July 27, 2021 (MLN): The shareholders of Fauji Fertilizer Company Limited (FFC) in Extraordinary General Meeting (EGM) held on July 27, 2021 have approved acquisition of 100% shareholding of Foundation Wind Energy-I Limited (FWEL-I) and 80% shareholding of FWEL-II.

The said acquisition has been approved at an aggregate consideration not exceeding PKR 14,072,340,000/plus sharing of the Delayed Payment Surcharge in accordance with the agreed Delayed Payment Surcharge, and adjustments mechanism set out in the respective share purchase agreements.

The aforesaid information was disseminated via notification to PSX.

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