The Nishat Group has rejected circulating social media claims suggesting any change in ownership or redevelopment plans related to Rafhan Maize, calling the reports completely unfounded.
In a public clarification, Mian Mohammad Mansha stated that the group has come across “speculative and unverified” information being shared online about Nishat Group and Rafhan Maize.
He clarified that no proposal regarding ownership changes or property redevelopment has been approved or is currently under consideration.
He further urged the public and media to avoid spreading unverified information.
The Competition Commission of Pakistan (CCP) earlier this month approved the acquisition of shareholding in Rafhan Maize Products Company Limited by a consortium of acquirers comprising entities of the Nishat Group and associated individuals, following a Phase I review conducted under Section 11 of the Competition Act, 2010.
The transaction involves the acquisition of shares in Rafhan Maize Products Company Limited from Ingredion Incorporated, the majority seller, and other individual shareholders.
The acquiring entities include Nishat Hotels and Properties Limited, D.G. Khan Cement Company Limited, Nishat Mills Limited, Lalpir Power Limited, Pakgen Power Limited, Nishat Power Limited, Nishat Chunian Power Limited, and associated individuals.
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Mian mansha, richest visionary leader in business when it comes to Money but becomes the poorest person if told to pay his own taxes. 😆