Searle Pakistan’s entire shareholding to be sold

KARACHI: The Searle Company Limited’s (Searl) board of directors has decided to sell its entire shareholding in Searle Pakistan Limited (SPL), previously named OBS Pakistan Limited, amounting to approximately 90.61 per cent of SPL’s issued and paid-up share capital.

The company informed the Pakistan Stock Exchange (PSX) through a notification on Wednesday.The buyer is a consortium led by IJARA Capital Partners Limited (ICPL) through its private equity and venture capital fund.The sale is contingent on finalizing the terms, meeting conditions, and securing necessary corporate, third-party, and regulatory approvals, including shareholder consent.