Wilmar Boosts Stake in Pakistan's Unity Foods to 42.17%

MT Newswires07-01

Wilmar International (SGX:F34) has completed its public offer for shares in Unity Foods, acquiring an additional stake in the target through its units, according to a Friday filing on the Singapore Stock Exchange.

Wilmar Pakistan acquired 156.5 million shares, and Unity Wilmar Agro acquired nearly 2 million shares of Unity Foods, for a total of 4.33 billion Pakistani rupees ($15.5 million).

Wilmar Pakistan holds 34.84% and Unity Wilmar Agro 14.08% of Unity Foods' total share capital post-acquisition. The transaction would give Wilmar an effective 42.17% interest in Unity Foods.

Unity Foods, listed on the Pakistan Stock Exchange, produces edible oils, industrial fats, flour, and feed ingredients. The company has a total share capital of 11.94 billion Pakistani rupees.

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