Islamabad January 29 2025: Bestway affiliate MAP Rice Mills is purchasing Engro Eximp Agriproducts for PKR 2.4 billion on a debt free and cash free basis from ENGRO Corporation.
The Board of Engro Corporation Limited (ECORP) has authorized the Company to enter into a Share Purchase Agreement (SPA) for the sale of Engro Eximp Agriproducts (Private) Limited (EEAP).
Further to the above, an SPA has been executed with MAP Rice Mills (Private) Limited for a transaction consideration of PKR 2.4 billion on a debt-free and cash-free basis. The Acquirer is an affiliate of the Bestway Group. The completion of this Transaction is subject to conditions as agreed in the SPA including receipt of corporate and regulatory approvals.