Silkbank agrees to sell majority stake to Fauji Foundation
Business
January 29, 2021
KARACHI: A multi-industry company Fauji Foundation on Thursday got consent of Silkbank Limited to acquire the bankâs majority stake. Financial terms were not disclosed.
The bank allowed Fauji Foundation to conduct due diligence of Silkbank and the company intends to apply to the State Bank of Pakistan for the requisite approval, the bank said in a filing with the Pakistan Stock Exchange.
The bankâs board of directors gave its in-principle approval to allow Fauji Foundation to conduct the require diligence and evaluate the information that will be provided by the Silkbank, according to the notice.
Trustpower puts retail book on the block as it seeks to grow its generation base
28 Jan, 2021 04:32 AM
4 minutes to read
Trustpower chief executive Dr David Prentice said the focus of the company was on growing its generation business, but it was not a forced seller of its retail business. Photo / Supplied
Trustpower chief executive Dr David Prentice said the focus of the company was on growing its generation business, but it was not a forced seller of its retail business. Photo / Supplied
NZ Herald
Trustpower says a strategic review of its retail business is driven by a plan to grow its generation base, but it will not sell at any price.
CANBERA (dpa-AFX) - Asian stock markets are in negative territory on Thursday following the overnight sell-off on Wall Street amid concerns about excessive stock valuations and as the Federal