Privatisation commission approves negotiation committee for HBFCL transaction

By MG News | January 09, 2024 at 09:56 AM GMT+05:00

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January 09, 2024 (MLN): The Privatisation Commission Board has given approval for the formation of a negotiation committee to initiate negotiations for concluding House Building Finance Company Limited (HBFCL) transaction besides constitution of transaction committees for HBFCL and FWBL, said a press release issued on Monday.

The decision was taken in a meeting of the Privatisation Commission Board under the chairmanship of the Federal Minister for Privatisation Fawad Hasan Fawad held on the same day.

The board will reconvene on Tuesday to consider approval of PIACL Legal Segregation/Draft Scheme of Arrangement and the transaction structure proposed by the Financial Advisor for the divestment.

Subsequent to the approval of the Board, the legal segregation plan as well as the transaction structure shall be taken to the Federal Cabinet through CCOP for final approval.

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