STPL to acquire remaining 9.29% stake from Arcelor Mittal France

MG News | December 03, 2021 at 05:29 PM GMT+05:00

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December 3, 2021 (MLN): The sponsor shareholders of Siddiqsons Tin Plate Limited (STPL), are acquiring complete shareholding of the company held by Arcelor Mittal France, comprising of 21,308,101 shares or 9.29% under a duly signed share purchase agreement between the parties, the company informed through a notice to PSX today.

After satisfying all necessary requirements of the Competition Commission of Pakistan (CCP), the aforementioned sponsor shareholders have been granted approval for the transaction.

To note, the company is the first and only tin plate industry in Pakistan.

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