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

BYD Reports Record-Breaking Revenue of RMB 777.1 billion in 2024

BYD released its 2024 financial report, with key indicators reaching record highs! The company achieved…

17 hours ago

Eid in Dubai: All You Need to Know

Eid in Dubai is a time of joy, celebration, and togetherness, bringing a unique blend…

17 hours ago

Bangladesh Deputy High Commission in Karachi Observes its National Day, Promotes Bilateral Ties

Bangladesh and Pakistan have been working for wider and stronger bilateral ties between the countries.…

17 hours ago

Bank Alfalah introduces Pakistan’s First E-Commerce Shopping Platform AlfaMall on WhatsApp

Bank Alfalah, one of Pakistan’s leading commercial banks, has introduced AlfaMall on WhatsApp, bringing a…

17 hours ago

K-Electric Reports Strong Industrial Uptake of Winter Demand Initiative

K-Electric (KE) has witnessed a positive industrial response to the Prime Minister’s Winter Demand Initiative,…

17 hours ago

Karachi: Couple Killed in Tragic Hit-and-Run on Karsaz Road

Karachi witnessed yet another devastating road accident as a speeding car struck a motorcycle on…

2 days ago