The Climate Global Control Trading of Dubai will acquire Invest Capital Investment Bank Limited (ICIBL) in Pakistan and negotiations in this regard are currently on the table.
The ICIBL informed the stock exchange about this deal through a notice here on Friday.
“The sponsors of Invest Capital Investment Bank Limited (ICIBL) have received intention to acquire 158,448,250 (55.62%) shares of Invest Capital Investment Bank Limited along with management control from M/S Climate Global Control Trading based in Dubai,” the notice said.
It further claimed that the purchase price is under negotiation with the acquirer.
In this regard, ICIBL has also informed Securities & Exchange Commission of Pakistan (SECP)’s specialized Companies Division (SCD). Now, the ICIBL will send a formal application to the SECP and State Bank of Pakistan (SBP) for approval.