Hub Power Holdings partners with MCPL for Mega Motor

MG News | December 05, 2024 at 10:04 AM GMT+05:00

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December 05, 2024 (MLN): Hub Power Holdings Limited (HPHL), a wholly-owned subsidiary of The Hub Power Company Limited, has entered into a shareholders agreement with Mega Conglomerate (Private) Limited (MCPL), the company's filing on PSX revealed today.

As part of this agreement, MCPL will subscribe to shares and become a 50% shareholder in Mega Motor Company (Private) Limited.

The rationale of the transaction is to consolidate the expertise of both HPHL and MCPL and strengthen the business venture with BYD Auto Industry Company Limited.

The consummation of the shareholders' agreement is subject to the necessary regulatory approvals and consents.

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