Bawanyair Products Limited has announced the acquisition of Alman Seyyam Sugar Mills (Private) Ltd. (ASSM) for a total consideration of PKR 12 billion.
The company has signed a Share Purchase Agreement with the sponsor shareholders of ASSM, securing 100% of their shareholding.
In a notification to the Pakistan Stock Exchange (PSX), Bawanyair Products Limited conveyed this information in accordance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations.
“In continuation of announcements made from time to time in respect of acquisition of Alman Seyyam Sugar Mills (Private) Ltd. (ASSM). We are pleased to inform that the Company has signed a Share Purchase Agreement with the Sponsor shareholders of ASSM for the purchase of 100% of their shareholding held by them in ASSM for a total consideration of PKR 12 billion,” read the notification.
Bawany Air Products Limited is a public limited Company incorporated in Pakistan on August 16, 1978, and was registered under the Companies Act 1913, now the Companies Act, 2017.
The principal activities of the Company are the production and trading of oxygen gas, dissolved acetylene, and nitrogen gas.
The PSX has been informed to notify the TRE Certificate Holders of this significant development.
