FFC board approves merger evaluation
MG News | July 19, 2024 at 03:13 PM GMT+05:00
July 19, 2024 (MLN): The board of directors of Fauji Fertilizer Company Limited (PSX: FFC) have granted an in-principle approval to evaluate the potential amalgamation of Fauji Fertilizer Bin Qasim Limited with and into Fauji Fertilizer Company Limited by way of a scheme of arrangement.
The company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.
The potential amalgamation is expected to allow for certain synergies which are likely to add value to the combined enterprise, thereby potentially enhancing future returns to shareholders, reads the notice.
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