Orient Group has expressed interest in buying a substantial stake in Aisha Steel Mills PHOTO: REUTERS
Orient Group, the makers of refrigerators and fridges, has expressed interest in buying a substantial stake in Aisha Steel Mills, a relatively new mill that is part of Arif Habib Corporation.
According to a notice sent by Aisha Steel Mills to the Karachi Stock Exchange (KSE) on Friday, some of its sponsor shareholders may commence negotiations in relation to a share purchase agreement with Orient Metals Private Limited.
The company said it would keep its shareholders updated about any material information pertaining to the development.
Orient Group is a client of Meezan Bank. The bank in its Friday’s notice to the KSE said Orient intended to make a public announcement in relation to the potential acquisition of substantial shares in Aisha Steel Mills.
Published in The Express Tribune, January 3rd, 2015.
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I never heard of this Steel Mill before? Where were they making steel and what size of production or revenue they were generation? Why. instead of giving True Standing of The Orient Group in Industry...its just mentioned as "a client of a bank"? I can get more news just by walking up to that Mill or at KSE than the half baked throw-up above.