Friday, September 23, 2011

Pakistan Telecommunication Company Limited (PTCL) acquires MAXCOM

In March last year, PTCL acquired Maskatiya Communications (MAXCOM), a broadband internet service provider in the cities of Karachi and Hyderabad and as such having less than 1% market share in Pakistan and a customer based of 6,000 users, through purchase of 100% shareholding of MAXCOM. Subsequent to the acquisition, it was decided by PTCL as well as MAXCOM to merge operation of both the entities in order to offer better and bundled services of voice, date and IPTV to MAXCOM customers on the same basis as are being offered to PTCL’s customer.
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Tuesday, September 20, 2011

Orascom Telecom acquires Pakistani microfinance bank for $11.5m

Arab Finance: Orascom Telecom (ORTE) acquired (via its fully controlled banking unit Oracap) 100 % of Waseela Bank for microfinance in Pakistan at $ 11.5 million; Alborsa daily newspaper cited a source in OT as saying.
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Wednesday, September 14, 2011

Posco acquires 15.34% of Pakistan's Tuwairqi Steel Mills For USD 15 Million

POSCO, the world’s fourth-largest steel producer, is seeking to beef up its presence in South Asia by acquiring shares in a Pakistani steel company. The Korean steel giant said Tuesday it has clinched a deal with Al Tuwairqi Holding Co. of Saudi Arabia to buy a 15.34 percent stake in Tuwairqi Steel Mills Ltd. for $15 million.
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JSCL sells 70.82% shares of Network Microfinace Bank to a Group of Investors

Jahangir Siddiqui and Company Limited on September 12, 2011 entered into a Share Purchase Agreement with the Group of Investors (the Acquirers) for sale of 21,245,184 ordinary shares of the face value of Rs 10 of Network Microfinance Bank Limited (NMBL) constituting 70.82 percent (approximately) of the total paid-up capital of NMBL.
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Wednesday, September 7, 2011

Minimum capital requirement (MCR) a driver of M&A in the insurance sector of Pakistan

Deal Idea, 7 Sep 2011: Insurance sector of Pakistan has a size of PKR 66 billion based on Net Premium out of which Non-Life segment accounts for 33% which is divided between 33 players. Out of these 33 players, 30 have a market share of less than 5% while 15 players have a market share of less than 1%.
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