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US spice maker McCormick announces plan to acquire majority stake in Unilever Pakistan Foods
US-based McCormick & Company has announced its intention to acquire at least 76.55% and control of Unilever Pakistan Foods Limited, according to a regulatory filing on Wednesday, as part of a global transaction involving Unilever PLC’s food business. McCormick intends to acquire 4.88 million shares in the Pakistani company through an agreement, with a public offer to be made in accordance with Pakistan’s takeover regulations, the announcement said. “Acquirer intends to acquire at least 76.55% shareholding and control of the target company (Unilever Pakistan Foods Limited). “The intended a...
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