McCormick to Acquire 76.55% Stake in Unilever Pakistan Foods
KARACHI: McCormick & Company, Inc. has announced its intention to acquire at least 76.55% of the shareholding and control of Unilever Pakistan Foods Limited through one or more of its affiliates.
Arif Habib Limited has been appointed as the Manager to the Offer by McCormick & Company in accordance with the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
In a notice submitted on behalf of the acquirer, Arif Habib Limited said the Public Announcement of Intention to acquire a significant shareholding in Unilever Pakistan Foods Limited had been submitted in line with the applicable regulatory requirements.
The announcement is to be published in one English-language and one Urdu-language newspaper within two working days of the announcement, as required under the relevant regulations.
The proposed acquisition aims to transfer a substantial stake and control of Unilever Pakistan Foods Limited to McCormick & Company, subject to the applicable legal and regulatory process.
Further details regarding the proposed transaction are expected to be available through the formal Public Announcement of Intention.
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