LCI, Lotte Chemical Corporation to acquire 1.13bn share of LOTCHEM

MG News | January 27, 2023 at 10:15 AM GMT+05:00

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January 27, 2023 (MLN): Lucky Core Industries Limited (PSX: LCI) has signed a Share Purchase Agreement (SPA) with Lotte Chemical Corporation for the acquisition of over 1.13 billion ordinary shares of Lotte Chemical Pakistan Limited (LOTCHEM), constituting approximately 75.01% of the issued and paid-up capital of LCPL, the company filings on PSX showed on Friday.

The completion of the transaction is subject to the terms of SPA including the various public offer and completion conditions stated therein, receipt of requisite approvals including clearance from the Competition Commission of Pakistan (CCP), and completion of other closing formalities.

At the time of writing, the scrip of LOTCHEM is being traded at Rs26.80 up by 26% DoD.

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