Gadoon Textile okays merger with Fazal Mills

The Gadoon Textile Mills (GADT) approved ‘Scheme of Arrangement’ of merger with Fazal Textile Mills (FZTM) on Tuesday. The decision comes seven months after the Yunus Brothers Group (YBG) companies first passed a resolution on May 13, 2014, to enter into discussion for evaluation of the feasibility including due diligence and valuation.

Wateen Telecom and Qubee announce merger of wireless broadband businesses in Pakistan

Wateen Telecom and New Silk Route Private Equity Asia Fund, the ultimate majority shareholder of Qubee, announced to merge wireless broadband businesses in Pakistan.

Merger of all 3 stock exchanges of Pakistan on the cards

Securities and Exchange Commission of Pakistan (SECP) Chairman Muhammad Ali on Friday desired for the merger of all three stock exchanges as a national stock exchange for attracting strategic foreign investors, however, he said that in the first phase Lahore Stock Exchange (LSE) and Islamabad Stock Exchange (ISE) will be merged.

Metro and Makro successfully merge businesses in Pakistan

METRO Cash & Carry Pakistan and Makro-Habib Pakistan have announced on Thursday, the completion of their merger, after obtaining approval from shareholders and the anti-trust and corporate authorities of Pakistan. The merged entity will now be known as METRO-Habib Cash & Carry (Private) Limited, and will operate nine wholesale centres in four major cities.

Merger of Ghani Southern Gasses into Ghani Gases Limited

The Ghani Gases Limited (GGL) has successfully completed all merger formalities of Ghani Southern Gasses into Ghani Gases Limited. In the result of merger, the authorized capital of the company has increased from Rs 725 million divided into 72.5 million ordinary shares of Rs 10 each to Rs 730 million shares divided into 73 million ordinary shares of Rs 10 each, an information sent to Karachi Stock Exchange (KSE) here on Monday said.

Ittehad Chemicals merger with Chemi Chloride Industries

Karachi: 1. You have requested us to provide 300 printed copies of the Scheme of Amalgamation/Merger. In this regard, we would like to inform you that the Merger Petition of CCIL with and into ICL (the “Petition’) shall be filed in the Honourable Lahore High Court in the very near future. The Scheme of Arrangement has not been finalized and its draft copy has been provided to you vide our letter No. ICL/SCY-3/80 dated September 30, 2011. The printed copies of the Scheme of Amalgamation/Merger shall be provided to you as soon as, subject to its finalization.

Merger of Gulshan Spinning Mills Limited, Gulistan Spinning Mills Limited with and into Paramount Spinning Mills Limited

The merger/amalgamation of Gulshan Spinning Mills Limited and Gulistan Spinning Mills Limited with and into Paramount Spinning Mills Limited shall be effective by way of a Scheme Of Arrangement for Amalgamation in accordance with the provisions of Sections 284 to 288 of the Companies Ordinance, 1984 and on the basis of the valuation calculated by M, Yousuf Adil Saleem and Co., Chartered Accountants, pursuant to their report dated April 1, 2011.

Retail consolidation: Makro and Metro in merger talks

KARACHI: In what would be the first deal of its kind, two of Pakistan’s leading wholesalers – Makro Habib and Metro Cash and Carry – are engaged in talks for a merger, marking what some analysts hope is a new wave of consolidation in a sector that has hitherto been defined by its fragmentation.

Merger of Johnson & Phillips Group into Johnson & Phillips (Pakistan) Limited

KARACHI, July 2: Three companies of the Johnson & Phillips group have entered into a “Scheme of Arrangement” for merger into Johnson & Phillips (Pakistan) Limited. The ‘surviving company’ on the conclusion of deal would be ‘Elmetec Johnson & Phillips (Pakistan) Limited. Only one out of the four concerned entities–Johnson & Phillips (Pakistan) Limited — is listed on the Karachi Stock Exchange with paid-up capital at Rs54.5 million.

Merger of Crosby Asset Management (Pakistan) Limited With And into KASB Funds Limited

With reference to the above captioned subject, it is to inform that the Securities & Exchange Commission of Pakistan has issued NOC in term of rule 7(2)(c) of the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 for acquisition and simultaneous merger of Crosby Asset Management (Pakistan) Limited with and into KASB Funds limited subject to all regulatory approval and compliances including approval from the shareholders of both Companies.

Summit Bank acquires 59% of MyBank for PKR 2.5 billion

KARACHI  (April 05, 2011) : Summit Bank, led by prominent banker Hussain Lawai, has successfully finalised acquisition deal with Mybank to acquire its majority shares at Rs 8 per share. The State Bank of Pakistan has already granted no objection certificate (NOC) for the merger of these two entities. Summit Bank has acquired 314.701 million shares of Mybank, taking 59.34 percent stake as well as management control.

Summit Bank to complete investment, merger plan by next month

KARACHI  (February 08, 2011) : Summit Bank will complete its investment and merger plan by next month, as corporate and regulatory compliances for merger has finalised with mybank. Talking to newsman on re-launching of Summit Bank (formerly Arif Habib Bank), Husain Lawai, President & CEO, Summit Bank said that some 125 million dollars have already been invested in the Pakistan's Banking industry, while some 50 million dollars will be invested in next two months.

Merger of J.K. Fiber Mills Limited and Abid Faiq Textile Mills Limited with and into J.K. Spinning Mills Limited

Merger of J.K. Fiber Mills Limited and Abid Faiq Textile Mills Limited with and into J.K. Spinning Mills Limited. Transaction details not disclosed. KSE Notice Attached.

Merger: Arif Habib, MCB units ink deal

KARACHI: Arif Habib Investments Limited (AHI) and MCB Asset Management Company Limited (MCB AMC) have signed a shareholders’ agreement for the merger of both entities. AHI spokesperson Sarah Shaikh confirmed, “the agreement was signed on January 19.”

According to the terms of the deal, the combined entity will be named as MCB-Arif Habib Savings and Investments Limited, once clearance is received from the regulator. Being a listed company, AHI shall be the surviving entity at the formal completion of the merger.