Dutch firm set to purchase Engro Foods

03:19 PM | 4 Mar, 2016
Dutch firm set to purchase Engro Foods
KARACHI (News Desk) - A leading Dutch dairy company is set to purchase Pakistan's Engro Foods, one of the largest companies listed at Pakistan Stock Exchange, against an investment of over $460 million.

Engro Food's acquisition would be Pakistan's  largest private sector takeover by a foreign firm in the country's history.

According to media reports, FrieslandCampina International Holding BV has expressed interest towards  acquire a 51 percent shares of Engro Foods Limited. The Citibank Pakistan is playing a role of financial advisor in the deal.

The economic experts believe that deal would result in a boost in Pakistan's foreign direct investment statistics and encourage other foreign investors to express interest in the local market.

During the 2015-16 financial year, Pakistan is expecting its economy to grow by 4.5 percent due to falling oil prices.