First UDL Modaraba to sell its investment property to The Searle Company for PKR 230 million

MG News | October 28, 2020 at 04:19 PM GMT+05:00

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October 28, 2020 (MLN): The Board of Directors of First UDL Modaraba have in principle agreed with The Searle Company for the sale of investment property and tangible fixed assets located at E44 and E45, North Western Industrial Zone, Port Qasim, Karachi, for a sale consideration of PKR 230 million.

As per initial discussions, the payment would be made by the Searle Company in installments over a period of 12 months after the signing of the agreement. The Sale/Purchase Agreement would be signed in due course after the finalization of the payment schedule and completion of all other formalities.

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