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Fauji Consortium, Army Welfare Trust sign share price accord




Fauji Consortium has signed a share price agreement with Army Welfare Trust, the majority shareholder of Askari Bank for the sale of their entire shareholding. According to announcement made by Karachi Stock Exchange (KSE) here on Friday, Fauji Fertiliser Company Limited along with Fauji Foundation and Fauji Fertiliser Bin Qasim Limited (collectively the ‘Fauji Consortium’) has signed a share price agreement with Army Welfare Trust, the majority shareholder of Askari Bank for the sale of their entire shareholding in the bank to the Fauji Consortium. 

The share purchase agreement is subject to all regulatory approvals including that of State Bank of Pakistan (SBP). 

Copyright Business Recorder, 2013

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