IGI Investment Bank Limited (IGIBL) and Bank Alfalah Limited are negotiating for the takeover by Bank Alfalah Limited of IGI Investment Bunk Limited together with its wholly owned subsidiaries. It is proposed that the takeover would be implemented by way of merger in terms of a scheme of amalgamation under Section 48 of the Banking Companies Ordinance, 1962.
Bank Alfalah Limited is shortly starting due diligence of IGI Investment Bank Limited and its subsidiaries. Subject to the result of this due diligence, applicable consents and regulatory approvals (if required), the parties will enter into a definitive agreement, which will cover the swap ratio of shares / consideration value as well. Till this definitive agreement is signed, there is no binding commitment on the part of the parties to proceed with the merger.
For more information, Contact:
Sher Afghan Hidayatullah Khan
Company Secretary
IGI Investment Bank Limited
7th Floor, The Fortune, Suite No. 701-713,
G,-20, Block-9, Khayaban-e-Jami, Clifton,
Karachi- 75600, Pakistan.
Tel: 111 234 234
Fax: 111 567 567
Source: Business Insider
