Naubahar Bottling Company (Private) Limited, Muhammad Shamim Khan, Qaiser Shamim Khan, Adnan Ahmed Khan and Nauman Ahmed Khan agreed to acquire a 96.46% stake in Baba Farid Sugar Mills Limited (KASE:BAFS) from Pattoki Sugar Mills Ltd. and others on January 17, 2019. Naubahar Bottling Company (Private) Limited, Muhammad Shamim Khan, Qaiser Shamim Khan, Adnan Ahmed Khan and Nauman Ahmed Khan entered into an agreement to acquire a 96.46% stake in Baba Farid Sugar Mills Limited (KASE:BAFS) from Pattoki Sugar Mills Ltd. and others for PKR 480 million on January 23, 2019. Under the terms, the buyers will acquire 9.12 million shares of Baba Farid Sugar Mills for PKR 52 per share. In a related transaction, Naubahar Bottling Company (Private) Limited, Muhammad Shamim Khan, Qaiser Shamim Khan, Adnan Ahmed Khan and Nauman Ahmed Khan agreed to acquire 1.77% stake in Baba Farid Sugar Mills Limited through a public offer. As of Abadan M. Mohajir, Faiz Mehmood and Syed Khurram Shahid of AKD Securities Limited and Riaz Ahmad & Company acted as financial advisors to Naubahar Bottling Company (Private) Limited, Muhammad Shamim Khan, Qaiser Shamim Khan, Adnan Ahmed Khan and Nauman Ahmed Khan. Naubahar Bottling Company (Private) Limited, Muhammad Shamim Khan, Qaiser Shamim Khan, Adnan Ahmed Khan and Nauman Ahmed Khan completed the acquisition of 96.46% stake in Baba Farid Sugar Mills Limited (KASE:BAFS) from Pattoki Sugar Mills Ltd. and others on June 13, 2019. New management took charge on June 13, 2019, after meeting of Board of Directors pursuant to completion of all legal and corporate formalities for acquisition of majority shareholding and management control of Baba Farid Sugar Mills.