IGI Holdings’ subsidiary to acquire up to 20% stake in Milvik Mobile Pakistan

MG News | April 04, 2022 at 01:17 PM GMT+05:00

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April 04, 2022 (MLN): The board of directors of IGI Investments (Private) Limited, a wholly-owned subsidiary of IGI Holdings Limited (IGIHL) has approved to acquire up to a 20% equity stake in Milvik Mobile Pakistan Limited subject to due diligence, completion of applicable corporate and regulatory approvals and execution of transaction agreements.

According to the notice issued by IGIHL, the transaction will be executed in multiple tranches upon fulfillment of certain conditions.

Milvik Mobile Pakistan Limited is a company engaged in the business of providing consumers with microinsurance products and digital health services and is currently a 100% wholly-owned subsidiary of Milvik AB in Pakistan.

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