Faisalabad December 1 2023: Interloop Limited (lLP) has successfully completed the Proposed Acquisition of 64% equity stake in the Target Company i.e., Top Circle Hosiery MilIs Co., lnc. (Top Circle), USA, according to company filing to the exchange.
Top Circle Hosiery Mills Co. is incorporated under the laws of United States of America, where it is registered. Top Circle has a hosiery
manufacturing subsidiary in China as well. The Proposed Acquisition has been made after the execution of definitive transaction agreement(s) and securing ali applicable corporate and regulatory approvals.
With the completion of this acquisition, Top Circle will now operate as a subsidiary of ILP, with ILP owning 64% of Top Circle. This strategic move represents a significant milestone in our ongoing efforts to enhance shareholders ‘ value and strengthen our position in the global market and ultimately contribute to the long-term sustainability of the Company.
