Karachi June 8 2022: Unity Foods Limited on 6th June 2022 had announced proposed acquisition of 100% shares of Uni-Food Industries Limited (UniFood) by its wholly owned subsidiary Sunridge Foods (Private) Limited.
As per filling to the exchange, Company has informed that the total value of the transaction will be PKR 1,200,000,000 including bank and other liabilities. The proposed transaction shall be subject to execution of definitive agreement and compliance with all applicable statutory and legal requirements.
Unity Foods Limited was incorporated in Pakistan in 1991 as a Private Limited Company under the Companies Ordinance, 1984 (now the Companies Act, 2017) and subsequently converted into a Public Limited Company on June 16, 1991. The principal business activity of the Company has been changed from yarn manufacturing to edible oil extraction, refining and related businesses.