ICI Pakistan gets $56.6m offer for NutriCo Morinaga

ICI Pakistan Limited has received a conditional offer from Morinaga Milk Industry Co. Ltd, Japan (Morinaga Milk) to acquire an aggregate of approximately 33.3% of the issued and paid-up share capital of NutriCo Morinaga (Private) Limited (NMPL), a subsidiary of ICI Pakistan, from NMPL’s existing shareholders at an aggregate price of $56.6 million, translating to around $2.07 per share, as per the letter filed by ICI on PSX today (July 14, 2022).

 

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