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Friday, September 17th, 2021

Thal Limited’s restructuring of Makro Habib Pakistan Limited, wholly owned subsidiary

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Karachi: Thal Limited (THALL) is pleased to inform its share-holders that it has entered into an agreement with Metro Cash and Carry International Holding BV (“Metro BV”) pursuant to which, subject to the requisite corporate and regulatory approvals, it is proposed that a Scheme of Arrangement will be presented to the Honorable High Court of Sindh at Karachi for restructuring the shares of Makro Habib Pakistan Limited (“MHPL”, wholly owned subsidiary of Thal Limited) and Metro Cash and Carry Pakistan (Pvt.) Limited (“MCCP”, wholly owned subsidiary of Metro By) pursuant to which the immoveable properties of MHPL and MCCP will substantially be sought to be merged in a new entity “PropCo” and the operations of these two subsidiaries will substantially be sought to be merged in “OpCo”. Such arrangement is proposed to yield benefits in the form of economies of scale to the two cash and carry businesses and, resultantly, to the share-holders of MCCP and MHPL.

For more information, contact:
Ali Asghar Moten
Company Secretary
Thal Limited
4th Floor, House of Habib,
3-Jinnah C.H. Society,
BIock-7/8, Sharea Faisal,
Tel: +9221 431-2030
Fax: +9221 431-2318


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