Key Takeaways
- Nishat Mills shareholders approved the sale of Nishat Sutas Dairy Limited to a Turkish company.
- The sale is valued at Rs. 2.05 billion and involves 409,673,410 shares.
- The transaction is set to be completed through a share sale and purchase agreement.
Nishat Mills Limited shareholders have given their approval for the sale of the company’s entire stake in Nishat Sutas Dairy Limited (NSDL) to a Turkish firm, Sutas Sut Urunleri A.S., for a total of Rs. 2.05 billion.
The approval was reached at an Extraordinary General Meeting (EGM) held on September 23, 2026, and the resolution has since been filed with the Pakistan Stock Exchange.
Under the terms of the deal, Nishat Mills will sell 409,673,410 ordinary shares in NSDL, which represent approximately 49.10 percent of the dairy company’s total issued and paid-up share capital.
The shares will be transferred to Sutas Sut Urunleri A.S., a company incorporated in the Republic of Türkiye, at a price of Rs. 5 per share, resulting in a total consideration of Rs. 2,048,367,050, or approximately Rs. 2.05 billion.
The resolution authorizes Nishat Mills’ Chief Executive Officer and Company Secretary to take all necessary steps to finalize the transaction, including executing the share sale and purchase agreement and related transfer documents.
This move is expected to streamline Nishat Mills’ operations and focus on its core business areas, while providing Sutas Sut Urunleri A.S. with a significant stake in the Pakistani dairy market.
The transaction is seen as a strategic move for both companies, allowing Nishat Mills to divest non-core assets and enabling Sutas Sut Urunleri A.S. to expand its presence in Pakistan’s dairy sector.
The approval by Nishat Mills shareholders marks a significant step towards the completion of this transaction, which is anticipated to be finalized in the coming months.
