JSGCL withdraws offer to acquire majority stake in EFGH

MG News | July 10, 2023 at 12:37 PM GMT+05:00

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July 10, 2023 (MLN): JS Global Capital Limited (PSX: JSGCL) has withdrawn its public announcement of intention to acquire at least 51% of the issued and outstanding ordinary shares of EFG Hermes Pakistan Limited (PSX: EFGH), Next Capital Limited (PSX: NEXT) filing on PSX revealed today.

NEXT is the manager of the offer.

“The Acquirer's 'Public Announcement of Intention' to acquire shares and control of the target company was published in newspapers on January 19, 2023," the notice reads

It further states that due to unsuccessful negotiations with the seller, it is no longer feasible for the Acquirer to continue with the intended takeover.

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