Fauji Fertilizer Company Limited (FFC) has joined an Arif Habib Corporation-led consortium that has formed a new special purpose company, PIA Equity Limited, to take over Pakistan International Airlines (PIA).
According to a statement, the newly created entity has been set up to acquire 100 percent ownership of the national carrier and to serve as the central structure for managing the transaction and future operations.
Alongside FFC, the consortium includes Arif Habib Corporation Limited, Fatima Fertilizer Company Limited, Lake City Holdings, AKD Group, and The City School Group, bringing together a mix of institutional and private investors.
The shareholding structure of PIA Equity Limited includes Arif Habib Corporation Limited, Fatima Fertilizer Company Limited, Lake City Holdings, AKD Group, The City School Group, and Fauji Fertilizer Company Limited.
Officials said the special purpose vehicle has been created to consolidate ownership under a unified structure, bringing together multiple institutional investors to manage the acquisition and long-term strategy of the airline.
The consortium is currently working with the Privatisation Commission to move the transaction toward completion.
The real game behind PIA takover…..
phauji wants to control everything.
Very unfortunate that everything is being controlled by our faujies
I would suggest FFC should make PIA a feasible venture by restructuring and with their good management abilities and then try to sale it out to some other private business venture to dispell this impression that everything is being controlled by our faujies.