Nishat Chunian to either acquire or merge with NC Electric Co.
MG News | December 10, 2019 at 10:48 AM GMT+05:00
December 10, 2019 (MLN): The Board of Directors of Nishat Chunian Limited (NCL), in its meeting held on Tuesday, discussed the matter of merger or acquisition of NC Electric Company Limited (NCECL) i.e. a 100% owned subsidiary of the company.
For the above purpose, Board of Directors granted in-principal approval for any of the following:
1. Acquisition of all assets of NCECL along with its liabilities by NCL.
2. The merger of both companies under Companies Act 2019
It has been decided in the board meeting that the final course of action will be taken after due consultation with the subject specialists.
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