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.
