UDPL approves sale of 40% stake in FMC United

MG News | December 06, 2024 at 12:00 PM GMT+05:00

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December 06, 2024 (MLN): The Board of Directors of United Distributors Pakistan Limited (PSX: UDPL) has approved the sale of approximately 1.64 million ordinary shares, representing 40% of the issued and paid-up share capital of FMC United (Private) Limited (FMC United).

These shares, currently held by UDPL, will be sold to FMC Corporation, an existing shareholder of FMC United.

Upon completion of the divestment transaction, FMC Corporation (directly and through its nominees) will hold 100% ownership of FMC United.

The agenda was approved by the board in their meeting held yesterday, according to the company’s notice to the PSX issued today.

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