Askari Bank: Fauji Foundation to acquire stake
AWT holds 50.57% shares in Askari Bank.
The Army Welfare Trust (AWT) has announced that it has received an offer from the Fauji Foundation Group for the acquisition of the whole or part of AWT’s shareholding in Askari Bank Limited, says a press release issued by AWT on Thursday. AWT holds 50.57% shares in Askari Bank. “The offer represents a major milestone in continuing endeavours of both the Fauji Group and AWT to create synergies.
The resultant arrangement will provide the platform for maintaining and strengthening the bank’s competitive advantage to play a leading role in the sector,” it said.
Published in The Express Tribune, December 17th, 2011.
The resultant arrangement will provide the platform for maintaining and strengthening the bank’s competitive advantage to play a leading role in the sector,” it said.
Published in The Express Tribune, December 17th, 2011.