Karachi April 8 2024: The Board of Directors of International Finance Corporation (IFC) has approved the debt financing up to US$ 400 million to PTCL for acquisition of Telenor Pakistan Limited.
However, the finalization of workstreams to sign financing agreements with IFC is underway and expected to be completed on or before 31st July, 2024. The details of the debt financing shall be disclosed upon the finalization of financing agreements.
PTCL has entered into a Share Purchase Agreement (SPA) with the shareholders of Telenor Pakistan (Private) Limited (“TPL”) for the acquisition of 100% shares of TPL, based on an Enterprise Value of PKR 108 billion on a cash free, debt free basis (the “Transaction”). The Transaction will be financed by external debt that will be raised by the Company.
