Proposed buyer BAHRIA TOWN
Bahria Town-JCL deal in the air
Bahria Town (Pvt) Ltd. has entered into exclusive negotiations to acquire controlling interest in Javedan Corporation Limited (JCL), the owners of Naya Nazimabad, stated a notice issued by the JCL to the Karachi Stock Exchange. If the deal goes through, say analysts, it will be the largest acquisition in the country’s real estate sector.
The consortium of sponsors/shareholders of JCL who have entered into the talks comprise Arif Habib Equity, Arif Habib Ltd, Aqeel Karim Dhedhi, Haji Ghani Usman, Shunaid Qureshi, Iqbal Usman, Mohammad Ayub Yunus Adhi and Summit Bank. Sources say the acquisition pertains to 75 percent of JCL stakes. The negotiations are said to represent Malik Riaz’s latest bid to enter Karachi’s real estate market.http://www.thenews.com.pk/Todays-News-13-22733-Bahria-Town-JCL-deal-in-the-air