LAHORE: IGI Investments (private) Limited on Wednesday announced its board of directors had approved investment of 45% in the equity of S.C Johnson and Son of Pakistan (Private) Limited.
In a notification sent to the Pakistan Stock Exchange (PSX), IGI Investments which is a wholly-owned subsidiary of IGI Holdings had received a go-ahead from its board of directors on 19th February to invest 45% in the equity of S.C Johnson & Son of Pakistan (Private) Limited.
According to the notification, the proposed investment will be subject to relevant regulatory approvals and execution of a joint venture agreement between IGI Investments, Johnson Netherlands Cooperatief UA Il and S.C. Johnson & Son of Pakistan (Private) Limited.
S.C Johnson & Son is a leading global manufacturer of household cleaning products and products for home storage, air care, pest control and shoe care, as well as professional products.
IGI Holdings Limited provides general insurance products in Pakistan. It operates through five segments: fire and property insurance; ,marine, aviation, and transport insurance; motor insurance; accident and health Insurance and miscellaneous insurance.