UDL divests 4.7% stake in International Brands to Universal Ventures

MG News | May 02, 2023 at 09:51 AM GMT+05:00

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May 02, 2023 (MLN): The Board of Directors (BoD) United Distributors Pakistan Limited (PSX: UDL) on Friday approved the divestment of equity shares of International Brands (Private) Limited (i.e. 110.79 million shares constituting approximately 4.7% held by the company to Universal Ventures (Private) Limited.

Further, the board has authorized the Chief Executive Officer (CEO) and Board Investment Committee Chairman of the company to carry out the valuation, negotiation, and finalizing of the terms of the transaction along with the preparation of necessary documents for the consideration of the board.

The aforesaid information was disseminated through the notification to exchange today.

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