Karachi February 14 2022: Escorts Investment Bank Limited, have received a notice from Bahria Town (Private) Limited for termination of Shares Sale and Purchase Agreement dated 9th September 2021 entered between Bahria Town (Private) Limited, Mr. Syed Sabur Rehman and J.R. Dallas Wealth Management LLC for acquisition of more than 50 percent shares and control of Escorts Investment Bank Limited.
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ARY Group decided not to purse with acquisition of World Call Telecom: PSX
As per the letter written by Bahria Town states that “with reference to the Sale Share Purchase Agreement originally entered into between Bahria Town (Private) Limited, Mr. Sycd Sabur Rehman and J.R. Dallas Wealth Management LLC dated 09.09.2021 (the “Agreement”). With regards to the Agreement, please consider this as our notice under clause 10 to terminate the Agreement.. The Agreement shall stand terminated without any obligations and liability on either party under the terms of the Agreement.”
