Nishat Mills to acquire Wernerfelt

MG News | January 20, 2023 at 03:12 PM GMT+05:00

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January 20, 2023 (MLN): The Board of Directors (BoD) of Nishat Mills Limited (PSX: NML) on Friday decided to acquire 100% of the issued share capital of Wernerfelt A/S by the company and/or Nishat International FZE, Dubai for a consideration up to $4.5 million from LARS LAURIDSEN HOLDING ApS, the company filing on PSX showed.

The aforesaid acquisition is subject to the signing of a definitive agreement between the parties and applicable regulatory approvals.

Wernerfelt A/S was established over 80 years ago and has a wealth of experience and knowledge in developing and supplying high-quality fabrics for Personal Protection and Workwear.

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