Universal Network Systems Limited (UNSL), more popularly known by its brand name ‘BlueEx’, has received a binding offer for the acquisition of its e-commerce operations by TPL Logistics, the company told the Pakistan Stock Exchange on Tuesday.
The filing read, “In accordance with Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, we are pleased to inform that the Company has received a binding offer from the TPL Logistics (Private) Limited (“the Offeror”) for the acquisition of its E-commerce domestic operations business (“the Offer”)”.
“The Board of Directors in its meeting held on October 02, 2023, has authorized Mr. Danish Elahi, Non-Executive Director, of the Company, singly to take all the necessary steps, negotiate, and subsequently execute any Agreement(s) on behalf of the Company for the purpose,” the filing added.
The consummation of the Proposed Transaction will be subject to the approval of the members of the Company and procurement of all applicable regulatory and corporate approvals as may be required.
