Tariq Glass Industries plans to acquire 50% of the shares of MMM Holding, which currently holds 78.61% of the voting shares of Balochistan Glass.
Tariq Glass is a manufacturer of glass containers in Pakistan, with products including tableware, pharmaceutical bottles, and glass bottles for the beverage industry.
Balochistan Glass is a listed company engaged in the manufacturing and sale of glass containers for the food and beverage industry.
AKD Securities Limited, has submitted a public announcement of intention on behalf of Tariq Glass.
The proposed acquisition is expected to strengthen Tariq Glass Industries position in the glass container market in Pakistan and provide an opportunity to diversify its product portfolio.
The acquisition will also provide Tariq Glass Industries with access to Balochistan Glass's customer base and distribution network.