Engro Corporation: (ENGRO): Engro to acquire tower assets of Pakistan Mobile Communications Limited (PMCL) – By Topline Research
<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Engro Corporation (ENGRO) has notified exchange that,
company has entered into an Amalgamation Agreement with PMCL and by way of this
arrangement PMCL’s tower assets of its wholly owned subsidiary, Deodar Private
Ltd, will vest into Engro Connect, a 100% subsidiary of ENGRO.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Based on the agreement, company will provide amount of
US$187.7mn to PMCL alongside repayment of Deodar debt of US$375mn, taking total
enterprise value to US$563mn. Reportedly, Deodar has total tower count of
10,500, translating into per tower price of US$53,590.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">To note, Engro&r...
