Gul Ahmed Textile Mills Limited (KASE:GATM) agreed to acquire 50% stake in World Wide Developers (Pvt) Limited from existing shareholders on August 30, 2019. In a related transaction, Gul Ahmed Textile Mills will subscribe for further issue by World Wide Developers (Pvt). The combined consideration of the two transactions is PKR 2.3 billion.

The transaction was approved by the shareholders of Gul Ahmed Textile Mills Limited.