Packages Limited (KASE:PKGS) expressed an intention to acquire 19.33% stake in Tri-Pack Films Limited (KASE:TRIPF) from Mitsubishi Corporation (TSE:8058) for PKR 1.2 billion on February 12, 2021. As per the agreement between the parties, Packages has first right of refusal to purchase the entire shareholding of Mitsubishi. On May 17, 2021, Packages has finalized the price of acquisition at PKR 154.62 per share. The transaction is subject to the condition that the purchase price falls within the range acceptable to the Board and subject to fulfillment of all applicable legal conditions and corporate and regulatory approvals. On July 9, 2021, the Board of Packages approved the transaction.

Packages Limited (KASE:PKGS) completed the acquisition of 19.33% stake in Tri-Pack Films Limited (KASE:TRIPF) from Mitsubishi Corporation (TSE:8058) on February 15, 2021.