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Islamabad: The Searle Company Limited has resolved to sell its substantial shareholding in Searle Pakistan Limited to IJARA Capital Partners Limited-led consortium. This major transaction was finalized during the Board of Directors’ meeting on July 31, 2024.
According to information available from the Pakistan Stock Exchange (PSX), the sale involves approximately 90.61% of the issued and paid-up share capital of Searle Pakistan Limited. The buyer, a consortium led by IJARA Capital Partners Limited through its Private Equity and Venture Capital Fund or its nominees, is set to acquire this significant stake. The board’s decision is contingent upon finalizing the terms of the sale, satisfying pre-set conditions, and securing the necessary corporate, third-party, and regulatory approvals, including that of the Company’s shareholders.
The Searle Company Limited has committed to keeping the Exchange updated on this matter, ensuring all stakeholders are informed as required under the Securities Act, 2015, and the PSX Rule Book regulations.