Unicol Ltd expands portfolio by acquiring Sugar Mills Ltd

By MG News | Category Equity | October 19, 2023 at 11:23 AM GMT+05:00

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October 19, 2023 (MLN): Unicol Limited, an associated company of Mehran Sugar Mills Limited (PSX: MRNS) has successfully completed the asset purchase of Sugar Mills Limited, MRNS filing on the local bourse revealed today.

The newly acquired asset is located at Jan Muhammad Wala Chowk Sial, Tehsil Koth Momin, district Sargodha, Punjab.

It is important to mention that MRNS holds a 33.33% share in Unicol Limited.

Unicol Limited shall be operating its sugar division for the upcoming crushing season 2023/2024.

Moreover, MRNS expects the assets to allow its associated company to grow/diversify its revenue base and also increase its future profitability.

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