The Board of Engro Corporation (PSX: ENGRO) has authorized the Company to enter into a Share Purchase Agreement (SPA) for the sale of its wholly owned subsidiary Engro Eximp Agriproducts (Private) Limited.
“Further to the above, an SPA has been executed with MAP Rice Mills (Private) Limited (the Acquirer) 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 filing stated.
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