IGI Holdings Limited (IGI) has successfully completed the acquisition of a 6.04% stake in Packages Limited, a prominent listed associate company of IGI. The company entered into a Share Purchase Agreement (SPA) with Enso AB, the seller, to purchase 5.39 million ordinary shares at a price of Rs 487.5 per share.
This transaction, disclosed through a notification to the Pakistan Stock Exchange (PSX), represents a strategic move by IGI to increase its ownership in Packages Limited. The acquisition was made possible after IGI secured pre-merger approval from the Competition Commission of Pakistan (CCP), ensuring regulatory compliance.
The completion of the deal follows the fulfilment of all other terms and conditions outlined in the SPA, marking the successful conclusion of the transaction. This acquisition further strengthens IGI’s position in its associate company, Packages, which is a leading player in the packaging industry in Pakistan.
Packages Limited has been a key part of IGI’s portfolio, and the increased stake signals IGI’s confidence in the company’s continued growth and potential in the market. The transaction aligns with IGI’s long-term strategic objectives and underscores its commitment to expanding its holdings in the industrial sector.
IGI’s move to acquire a larger shareholding in Packages Limited comes at a time when the company is aiming to enhance its influence and participate more actively in the management and development of the packaging business in Pakistan.
