PICIC Insurance Limited (PSX: PIL) has announced significant delays in its merger with Crescent Star Foods (Pvt.) Limited (CSF), citing pending approvals from the Sindh High Court and the Securities and Exchange Commission of Pakistan (SECP). According to a progress report filed with the PSX, the PIL merger process, which began in 2017, remains unresolved … Read more
Park View Enclave (Private) Limited has filed a lawsuit in the Sindh High Court, Karachi against Shaukat Faiz Tareen and others, challenging the proposed merger of Silkbank Limited with United Bank Limited (UBL). The merger is taking place under a scheme approved by the State Bank of Pakistan in accordance with Section 48 of the … Read more
The shareholders of Silkbank Limited approved the merger of the bank with and into United Bank Limited (UBL). The decision was taken at the Extraordinary General Assembly Meeting held on Thursday, 26 December 2024, and remains subject to regulatory approvals. This decision follows UBL’s offer dated 31 October 2024 for the proposed merger. On November … Read more
Hon Hai Precision Industry Co, the Taiwan-based iPhone maker known as Foxconn, has decided to suspend its interest in pursuing Nissan Motor Co, while the Japanese automaker is in negotiations over a potential merger with Honda Motor Co. Someone familiar with the matter. The pause comes after Foxconn sent a delegation to meet Renault SA … Read more