AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, December 20, 2016 (PPI-OT): Miscellaneous
Dutch company FrieslandCampina Pakistan BV (FC Pakistan) has completed its acquisition of a majority stake in Engro Foods at an estimated price of $446.81 million and the company is expected to bring in expertise and introduce new products. The Netherlands-based dairy company has acquired 51% stake at Rs120 ($1.14) per share in Engro Foods. It acquired 47.1% (or 361.29 million shares) from Engro Corporation, the parent company of Engro Foods, and another 3.9% (or 29.66 million shares) from general public, Faiz Chapra, Company Secretary, said in a notification to the Pakistan Stock Exchange on Monday. http://tribune.com.pk/story/1268342/foreign-directinvestment-dutch-company-acquires-engro-foods-446-81m/