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.