Shan Foods on Saturday debunked claims rife on social media of the company getting acquired by a multinational company.
In a statement released, the corporation declined the rumours regarding its acquisition and clarified in case of future that any such news will be communicated by the company to the respective shareholders.
“Speculative news has been circulating on social media channels claiming that a multinational company is in the process of acquiring and/or has acquired Shan Foods,” read the statement.
“As a proud Pakistani company which has seen exponential growth globally, Shan Foods continues to explore organic and inorganic opportunities for further enhancement of its business,” it added.
Refuting the claims, the company said in the statement: “However, if and when such a situation develops, we will be the first to communicate the news to our respective stakeholders.
“Over the course of almost 40 years, Shan Foods has worked on establishing itself as a powerful global brand. The company has made its mark in over 65 countries across five continents,” it continued.
“The team behind the brand continues to work diligently to deliver enticing and innovative products for its customers,” it further stated.
New police pickets to be established to strengthen River Indus’s left bank, contain katcha bandits
Major roads in Islamabad blocked as part of the security measures for Raisi's arrival, while public holiday also...
Killed terrorists remained actively involved in terrorist activities against security forces and innocent civilians,...
Rizvi was appointed after former IG Police Akbar Nasir Khan relinquished charge on March 30
Former PM's visit is of a personal nature during which he will also undergo a medical checkup, say sources
President Raisi will meet Governor Tessori and Chief Minister Murad Ali Shah in Karachi tomorrow