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Packages, IGI to buy 52.87% shares of sanofi-aventis pakistan

It may be noted here that Packages Limited and IGI Investments are one of the few corporate giants in Pakistan. Their intention of buying a majority stake in Sanofi-Aventis Pakistan is being seen as a major corporate sector development in the country.

ISLAMABAD: Packages Limited, IGI Investments and affiliates of Asghar Ali Group are buying 52.87 percent shares of the Sanofi-Aventis Pakistan. After buying majority stake, the acquirers will get the management control of Sanofi Pakistan limited.

A circular issued to the regulators today said, in accordance with Sections 96 and 131 of the Securities Act, 2015 and Regulation 5.6.1(a) of the Pakistan
Stock Exchange Rule Book, enclosed herewith is a copy of newspaper advertisement published on December 29, 2021 by Arif Habib Limited, Manager to the Offer, regarding intention to acquire upto 52.87% shareholding of Sanofi Pakistan Limited on behalf of “Acquirers” in accordance with the provisions of the Securities Act, 2015 and the Listed Companies (Substantial Acquisitions of Voting Shares and Takeovers) Regulations, 2017.

It may be noted here that Packages Limited and IGI Investments are one of the few corporate giants in Pakistan. Their intention of buying a majority stake in Sanofi-Aventis Pakistan is being seen as a major corporate sector development in the country.

Sanofi-Aventis Pakistan is a French multinational healthcare company headquartered in Paris, France. It is the world’s fifth-largest pharmaceutical company by prescription sales. Originally, the corporation was established in 1973 and merged with Synthélabo in 1999 to form Sanofi-Synthélabo.

However, once the acquisition process completes, the management control of Sanofi-Aventis Pakistan will be transferred to the buyers.

Javed Mahmood
Written By

I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.

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