Searle approves making equity investment of Rs 7.2 billion in Luna Pakistan

The Board of Directors (BoDs) of the Searle Company Limited, in their meeting, held on March 6, 2020 has approved the making of an equity investment in the amount of up to Rs 7.2 billion in Luna Pakistan (Private) Limited for the purposes of settling and swapping the finance facility availed by Luna from Habib Bank Limited “Proposed Equity Investment” The funding of Proposed Equity Investment is intended to be made through availing of a finance facility from a syndicate of banks and financial institutions arranged by Habib Bank Limited itself. To recall, BoDs of Searle Company Limited had approved the acquisition of 100% of the issued and paid-up share capital of Luna Pakistan Pvt Limited (Luna) on December 17, 2019.