The consortium led by Packages Limited has made a public offer to purchase 585,254 ordinary shares of Sanofi-Aventis Pakistan Limited, having a par value of Rs. 10 each at an offer price of Rs. 1,704 each, according to the notification issued to Pakistan Stock Exchange (PSX).
The consortium comprises Packages Limited, IGI Investments (Private) Limited, and affiliates of Arshad Ali Gohar Group. Arif Habib Limited (AHL) is the Manager of the Offer.
Recently, on the behalf of these investors, Packages Limited had extended the timeline for making a Public Announcement of Offer (PAO) to acquire the entire 52.87 percent shareholding of Sanofi Foreign Participants B.V. held in Sanofi-Aventis Pakistan Limited (SAPL) by an Investor Consortium.
Packages Limited has planned to invest Rs. 3.17 billion for the acquisition of a 35 percent stake in Sanofi-Aventis Pakistan Limited with a maximum of up to Rs. 4.7 billion for the acquisition of 5,099,469 ordinary shares, i.e., 52.87 percent.