August 25, 2020 (MLN): The Searle Company Limited has acquired 100% of the issued and paid-up share capital of Luna Pakistan Limited (Luna), which indirectly (through Lunar Pharma (Private) Limited) owns 100% OBS Pakistan, a notification to PSX revealed.
All business activities of Luna have been transferred to Searle from Universal Ventures (Private) Limited (UVPL).
Furthermore, the Company has also made an equity injection of Rs 7.2 billion in Luna for the purposes of settling and swapping the finance facility availed by Luna from Habib Bank Limited through availing a new finance facility from Habib Bank Limited itself.
To recall, Board of Directors of Searle had approved the making of an equity investment in Luna on March 6, 2020.
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