Inner Mongolia Yili Industrial withdraws intention to acquire Fauji Foods Ltd

MG News | April 29, 2019 at 03:52 PM GMT+05:00

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April 29, 2019 (MLN): Inner Mongolia Yili Industrial Group has withdrawn its intention to acquire up to 51% shares and control of Fauji Foods Limited (FFL), having failed to reach an agreement with the sellers (Fauji Fertilizer Bin Qasim Limited-FFBL), on the proposed sale and transfer of shares.

Moreover, according to an official announcement, the time period to make the offer has lapsed.

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