FFC acquires DH Fertilizer

KARACHI: The board of directors of Fatima Fertilizer Company has approved the acquisition of 100 percent shares of DH Fertilizer Limited at a price of Rs2.0 billion, a statement said on Thursday.According to a notice issued to Karachi stock exchange, the price of 100 percent shares of DH Fertilizer has been values at Rs2.0 billion, which is the difference between the agreed enterprise value i.e. Rs6.6 billion of DH Fertilizer and the total long term loans of Rs4.6 billion.The transaction is subject to assignment of interests in favour of Fatima Fertilizer Company under the agreement for the sale and purchase of entire shareholding of DH Fertilizer, a joint venture of Dawood Hercules Corporation and Pakarab Fertilizer.