Shareholders of Merit Packaging Limited (PSX: MERIT) have given their approval for the sale of key assets, including the plant, machinery, and related goodwill of its flexible packaging unit, in a transaction valued at Rs. 1 billion.
The shareholders accorded approval to the disposal and sale of the Company’s assets comprising of Plant and Machinery (Flexible Packaging Unit) and Goodwill (the Assets) located at 17-B, Sector 29, Korangi Industrial Township, Karachi for an aggregate sale consideration of Rs. 1 billion based on the best available quote from the interested party i.e. Kompass Pakistan (Private) Limited, the company said in a notice to the Pakistan Stock Exchange (PSX).
The decision passed by the members of the Company in the Extraordinary General Meeting held on June 27, 2025.
The company said that the Board of Directors has been empowered to carry out the transaction, including signing sale agreements, collecting payments, and completing all legal requirements related to the transfer of assets.
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