CCL Holdings (Pvt.) Limited has announced its intention to acquire voting shares and gain control of Mitchells Fruit Farms Limited.
Arif Habib Limited, acting as the Manager to the Offer on behalf of CCL Holdings, submitted the official announcement under the regulations of the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
“On behalf of the Acquirer, we are pleased to submit a Public Announcement of Intention to acquire voting shares and control of Mitchells Fruit Farms Limited,” Arif Habib Limited said in its notice sent to the PSX.
CCL Holdings said that the Public Offer shall be made for 50% of the remaining voting shares.
The public announcement is set to appear in newspapers on November 15, 2024. Interested parties may contact Arif Habib Limited for further information regarding the offer.
The acquirer is a holding company of a wholly-owned subsidiary, CCL Pharmaceuticals (Pvt) Limited. CCL is principally engaged in the manufacturing and marketing of branded generic pharmaceuticals and consumer health products.
Earlier, Mitchell’s announced, in an official disclosure to the PSX, that two major shareholders, Syeda Maimanat Mohsin and Syeda Matanat Ghaffar, are considering various strategic options, including the potential sale of their combined 40.63% stake in the company.
To facilitate the review, Mitchell’s said it was setting up a data room for due diligence by any interested parties.
