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Fauji Foundation keen to buy Silkbank
Bank has opened doors for conglomerate to evaluate its possible price
Fauji Foundation, a leading group of companies in Pakistan, has expressed interest in buying Silkbank in a bid to expand its footprint in the diversified business as the bank has opened doors for the conglomerate to evaluate its possible price.
We would like to inform … Fauji Foundation has expressed interest in acquiring a majority stake in Silkbank Limited, Silkbank Company Secretary Faizul Hasan Hashmi said in a notice sent to the Pakistan Stock Exchange (PSX) on Thursday.
As part of the process, Silkbank has been requested to allow Fauji Foundation to conduct due diligence of the bank and in this regard Fauji Foundation intends to apply to the State Bank of Pakistan (SBP) for requisite approval of the same. ....

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