Wilmar’s Pakistan Division to Buy 277 Million Unity Foods Shares
Published on: March 20, 2024.
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Wilmar Pakistan Holdings Pte Ltd (WPH) and its subsidiary Unity Wilmar Agro (Pvt) Ltd (UWA), along with certain shareholders of Unity Foods Ltd (UFL), have announced their plans to acquire 277,070,908 shares of UFL, according to the Pakistan Stock Exchange (PSX). The offer, made through Arif Habib Ltd, complies with the pricing formula and relevant Pakistani laws and regulations.
UFL is a leading manufacturer and processor of edible oils, industrial fats, flour, and feed ingredients for Pakistan’s poultry and livestock sectors. This acquisition demonstrates Wilmar International Ltd’s (WIL) commitment to Pakistan’s economy and its confidence in the country’s resilience and economic potential. WIL, a Fortune 500 company, is the ultimate acquirer and controlling shareholder of WPH, which in turn controls UWA with a 52% shareholding interest.
Founded in Singapore in 1991, WIL is Asia’s top agribusiness group. Its business activities encompass oil palm cultivation, oilseed crushing, edible oils refining, flour and rice milling, sugar milling and refining, consumer product manufacturing, ready-to-eat meals, specialty fats, oleochemicals, biodiesel, fertilizers, and food park operations. By leveraging its scale, integration, and logistical advantages, Wilmar Group maximizes margins at every stage of the value chain, achieving operational synergies and cost efficiencies.
With a multinational workforce of approximately 100,000 employees, Wilmar Group is committed to sustainability in its global operations, supply chain, and community engagement. The increased shareholding by Wilmar Pakistan Holdings Pte. Ltd. and its partners aims to contribute significantly to the growth and prosperity of Unity Foods Limited and the broader Pakistani economy.
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