Supernet Infrastructure submits PAI to acquire HCL

March 02, 2023 (MLN): Supernet Infrastructure Solutions Private Limited, a subsidiary of Supernet Limited (GEMSPNL) has submitted a Public Announcement of Intention (PAI), expressing its intention to acquire Hallmark Company Limited (HCL), the company's filing on PSX said. 

The acquisition is aimed at expanding Supernet's business operations and strengthening its position in the telecommunications and information technology industry in Pakistan.

Supernet Limited, a leading provider of broadband and data communication services in Pakistan, has been expanding its portfolio of services in recent years. The company's subsidiary, Supernet Infrastructure Solutions Private Limited, provides IT and infrastructure solutions to clients in various sectors, including telecommunications, banking, and healthcare.

HCL, a publicly traded company on the PSX, is engaged in the manufacturing and distribution of consumer goods, including confectionery, snacks, and beverages. The company also operates in the real estate and energy sectors.

The proposed acquisition is subject to regulatory approvals and other customary closing conditions. The terms of the deal were not disclosed.

If completed, the acquisition would strengthen Supernet's position in the Pakistani market, as well as provide HCL with access to Supernet's extensive network and expertise in the telecommunications and information technology industry.

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