Searle Company's BoD greenlights full divestment of Searle Pakistan

MG News | May 15, 2024 at 02:00 PM GMT+05:00

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May 15, 2024 (MLN): The Board of Directors (BoD) of The Searle Company Limited PSX: SEARL) has in principle approved the disposal of 100% shareholding/control of Searle Pakistan Limited previously named OBS Pakistan Limited.

Furthermore, the BoD has authorized the management to negotiate and finalize the deal terms with the relevant parties and submit the finalized terms for the consideration of the Board.

In May 2019, SEARL announced that it was acquiring OBS Pakistan Limited.

The company is principally engaged in manufacturing pharmaceuticals and other consumer products. International Brands (Private) Limited is the Parent Company, which holds 56.32% shareholding in the company.

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