Wilmar Agro raises stake to 30 per cent in Unity Foods

Previously, the Wilmar unit held 11.01pc stake in Unity Foods which it acquired in May 2019 equivalent to 59,905,187 shares of the company

Have Pakistan’s most successful startup founders become Naspers’ latest victims?

The merger of EMPG and OLX has created a new entry into the unicorn club, but is it another one of Naspers' classic burn-them-out takeovers? Or did the Pakistani founders negotiate from a position of strength? Besides, who is next?

Is Ernst & Young about to exit Pakistan?

Ernst & Young, the global accounting and professional services firm that goes by its brand name EY, is re-evaluating its relationship with...

PSM privatisation process to commence once again

It has been speculated that around 5 to 6 international firms have approached the federal government to reach an arrangement for the privatisation and revival of PSM.

Foreign banks eye financial advisory role in divestment of two LNG fired-power plants: Report

This divestment would rank as the country’s largest privatization deal since 2005 when Etisalat acquired a controlling stake in Pakistan Telecommunications Limited (PTCL) for $2.6 billion

Mongolia Yili given ninety-day extension to make public offer for 51% voting shares in Fauji Food

At the end of July, Inner Mongolia Yili Industrial Group Co had submitted an investment intention letter to acquire a 51 percent majority stake in Fauji Foods

Actis pushes for investor vote on Abraaj fund takeover

A move by Actis to take control of Abraaj Private Equity Fund IV had hit a stumbling block as the British firm sought legal protection from any claims surrounding allegations of missing money, three sources close to the matter said earlier

Naubahar Bottling interested in acquiring 98.23% stake in Baba Farid Sugar mills

The company was founded in 1978 and is based in Lahore and is a subsidiary of Pattoki Sugar Mills Limited

SEP resubmits offer to acquire 66.4% stake in K-Electric

On December 21st, as per regulations, Shanghai Electric withdrew its offer due to lapse in the prescribed time period for making a public announcement of the offer

With PM taking personal interest will the K-Electric deal finally materialize?

On news of SEP’s delegation meeting with the PM, led to a surge in selling and buying of K-Electric shares and it ended Friday as the market volume leader with 13.90 million shares traded

Next Capital announces client’s intention to acquire 49.90% stake in Johnson and Phillips

Johnson and Phillips have a market capitalization of Rs343.90 million and counts itself amongst the first foreign company to have opened an office in Pakistan after independence in August 1947

Vopak to buy 44% stake in Elengy Terminal Pakistan

The acquisition will be done in separate transactions with International Finance Corp (IFC) and Engro Corp and will include a 29 percent share it had already said it would buy in July, the company said in a statement

Careem looks to raise up to $200 million in China: source

In a separate development, Careem has been working with investment bank Jefferies as an adviser on investment options and fundraising, including a potential mergers and acquisition deal in the region with Uber Technologies Inc

Baltoro acquires stake in NBP funds

Baltoro made its first investment in Pakistan in 2016 by acquiring a stake in AGP Limited, a Karachi based pharmaceutical company

Turkish arm of Abraaj looking to sever ties & become independent: Report

Canadian asset management group, Brookfield is said to be in negotiations with the Turkish entity of Abraaj to acquire it, according to people aware of the talks