Mitchell's Fruit Farms identifies two possible buyers

KARACHI: Mitchell’s Fruit Farms Limited has received firm intentions from two companies for a sale of shares along with transfer of management control, the company announced in a notification sent to the Pakistan Stock Exchange (PSX).

“The board of directors was informed of the bidding process and firm intentions received from Waves Singer Pakistan Ltd and Bioexyte Foods Pvt Ltd,” the notice sent to the PSX read.

“The board considered the key recommendations from the management and authorised Najam Aziz Sethi, Syed Manzar Hassan and Nauman Munawar to negotiate and finalise terms of documentation with preferred bidder,” the notice said.

In August Mitchell's first announced that it had received a notice of intention from Waves Singer and Bioexyte Foods to buy more than 30% voting shares of Mitchell's Fruit Farms Limited.