Advertisement
News

Searle to Divest 90% Stake in Subsidiary to IJARA Capital

Advertisement

The Board of Directors of The Searle Company Limited (PSX: SEARL) has approved the sale of its 90.61 percent shareholding in its subsidiary, Searle Pakistan Limited (SPL), to a consortium led by IJARA Capital Partners Limited (ICPL).

In a notice to the Pakistan Stock Exchange (PSX) on Wednesday, SEARL confirmed that the transaction, involving SPL’s entire issued and paid-up share capital, is subject to finalizing sale terms, fulfilling conditions precedent, and securing necessary corporate, third-party, and regulatory approvals, including shareholder consent.

SEARL, which focuses on the manufacture of pharmaceutical and consumer products, is predominantly owned by International Brands (Private) Limited, which holds a 56.32 percent stake in the company.

Advertisement
News Desk

Recent Posts

Senior Russian General Killed in Car Bomb Near Moscow

A senior Russian military official, Major General Yaroslav Moskalik, was killed on Friday in a…

1 day ago

LUMS Launches CeDAR to Drive Blockchain and Web 3.0 Innovation in Pakistan

The Center for Digital Assets Research (CeDAR) at LUMS was officially launched on April 24,…

1 day ago

IPAK Group Posts Strong Q3 Results

International Packaging Films Limited (IPAK) Group has recorded 66% increase in its revenues for the…

1 day ago

AKU, Local and Global Partners Launch Landmark Malaria Elimination Project in Thatta

The Aga Khan University (AKU) marked World Malaria Day with the launch of the Thatta…

1 day ago

Stanford Scientists Unveil Solar Panels That Work at Night

Researchers at Stanford University have unveiled a breakthrough in solar technology: a new type of…

1 day ago

NDMA Warns of Severe Weather Across Pakistan, PMD Issues Heatwave Alert Ahead of May Storm System

The National Disaster Management Authority (NDMA) has warned of unstable weather conditions across several parts…

1 day ago