The Investor Consortium comprised of Packages Limited, IGI Investments Limited and Ali Gohar & Co. Ltd completed the acquisition of 52.87% stake in sanofi-aventis Pakistan Limited from Sanofi Foreign Participations B.V.
April 27, 2023
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An unknown buyer agreed to acquire a 52.87% stake in sanofi-aventis Pakistan Limited (KASE:SAPL) from Sanofi (ENXTPA:SAN) for PKR 4.8 billion on December 20, 2021. Completion is expected to take place in late 2022 or early 2023 and is subject to a number of conditions including competition approval, approval from the State Bank of Pakistan for remittance of the consideration funds and completion of a mandatory takeover offer by the Purchasers. Linklaters acted as legal advisor to Sanofi. As of December 21, 2021. The Investor Consortium comprised of Packages Limited (Company), IGI Investments (Private) Limited and Ali Gohar & Co. (Pvt) Ltd signed share purchase agreement to 52.87% stake in sanofi-aventis Pakistan Limited (KASE:SAPL) from Sanofi Foreign Participations B.V. Packages Limited has acquired 35% equity stake in Sanofi Pakistan at a negotiated purchase price of PKR 940 per share amounting to PKR 3.17 billion. In addition, the Packages Limited also acquired 6.07% shareholding in Sanofi Pakistan at such price and subject to such terms and conditions as were applicable under the mandatory tender offer. The remaining shareholding i.e. 17.87% has been taken up by other members of the Investor Consortium on similar terms in accordance with the Share Purchase Agreement. Transaction is executed upon completion of all contractual conditions and compliance with applicable corporate and regulatory requirements including a mandatory tender offer under the provisions of the Securities Act, 2015 and the Listed Companies Regulations, 2017.
The Investor Consortium comprised of Packages Limited (Company), IGI Investments (Private) Limited and Ali Gohar & Co. (Pvt) Ltd completed the acquisition of 52.87% stake in sanofi-aventis Pakistan Limited (KASE:SAPL) from Sanofi Foreign Participations B.V. on April 28, 2023.
Hoechst Pakistan Limited is a pharmaceutical company. The Company is engaged in the manufacturing, selling and trading of pharmaceutical and related products. The Company offers solutions for various therapeutic areas, such as antibiotics, cardiology, diabetes, pain and allergy and others. Its patient programs address unmet needs around access and education across Pakistan to support people with diabetes. It provides and delivers therapeutic solutions for cardiovascular diseases (CVDs) and works with healthcare professionals to impart awareness and knowledge to patients who are at risk of developing heart diseases. Its products include ampoules, vials, tablets and capsules, and oral liquids. Its brands include Flagyl, Clexane, No-Spa, Lantus, Amaryl, Claforan, Haemaccel, Enterogermina, Plavix and Selsun Blue. Selsun Blue helps treat and prevent dandruff symptoms by targeting dandruff from the source and thus soothes irritated scalp, fights itch and controls visible flakes.
The Investor Consortium comprised of Packages Limited, IGI Investments Limited and Ali Gohar & Co. Ltd completed the acquisition of 52.87% stake in sanofi-aventis Pakistan Limited from Sanofi Foreign Participations B.V.