AIRLINK 74.75 Increased By ▲ 0.50 (0.67%)
BOP 5.05 No Change ▼ 0.00 (0%)
CNERGY 4.53 Increased By ▲ 0.11 (2.49%)
DFML 37.79 Increased By ▲ 1.95 (5.44%)
DGKC 90.99 Increased By ▲ 2.99 (3.4%)
FCCL 22.65 Increased By ▲ 0.45 (2.03%)
FFBL 32.80 Increased By ▲ 0.08 (0.24%)
FFL 9.75 Decreased By ▼ -0.04 (-0.41%)
GGL 10.90 Increased By ▲ 0.10 (0.93%)
HBL 115.90 No Change ▼ 0.00 (0%)
HUBC 136.36 Increased By ▲ 0.52 (0.38%)
HUMNL 10.10 Increased By ▲ 0.26 (2.64%)
KEL 4.62 Increased By ▲ 0.01 (0.22%)
KOSM 5.09 Increased By ▲ 0.43 (9.23%)
MLCF 40.25 Increased By ▲ 0.37 (0.93%)
OGDC 137.95 Increased By ▲ 0.05 (0.04%)
PAEL 27.57 Increased By ▲ 1.14 (4.31%)
PIAA 24.24 Decreased By ▼ -2.04 (-7.76%)
PIBTL 6.70 Decreased By ▼ -0.06 (-0.89%)
PPL 123.65 Increased By ▲ 0.75 (0.61%)
PRL 27.20 Increased By ▲ 0.51 (1.91%)
PTC 14.00 No Change ▼ 0.00 (0%)
SEARL 58.81 Increased By ▲ 0.11 (0.19%)
SNGP 70.39 Decreased By ▼ -0.01 (-0.01%)
SSGC 10.40 Increased By ▲ 0.04 (0.39%)
TELE 8.65 Increased By ▲ 0.09 (1.05%)
TPLP 11.25 Decreased By ▼ -0.13 (-1.14%)
TRG 64.50 Increased By ▲ 0.27 (0.42%)
UNITY 26.60 Increased By ▲ 0.55 (2.11%)
WTL 1.40 Increased By ▲ 0.02 (1.45%)
BR100 7,864 Increased By 25.8 (0.33%)
BR30 25,594 Increased By 134 (0.53%)
KSE100 75,312 Increased By 381 (0.51%)
KSE30 24,200 Increased By 53.9 (0.22%)

imageDawlance Group, a Pakistani privately owned manufacturer of consumer durables has been acquired by the Turkish household appliances manufacturer Arçelik A.S., for $258 million.

According to local media reports, the foreign investors are 0paying a lot of attention towards Pakistani companies, as Dawlance which is also Pakistan’s leading home appliance maker, has become the third local company alone this year to be acquired by a foreign company.

As per earnings details provided by Dawlance to Arcelik, the home appliance maker had revenues of $220.6 million in 2015, whereas, the company’s net debt amounted to $30 million at the end of 2015, according to Deutsche Bank.

It should also be mentioned that Dawlance reportedly made $41 million in total sales in 2015.

Coming to Arcelik, the Turkish giant is the sixth largest home appliance maker in the world and with its acquisition of Dawlance, would definitely expand its global footprint.

Whereas, Dawlance itself is one of the major players in Pakistan’s white goods market, which comprises of PEL, Haier, Orient and Dawlance itself. The company dominates in the microwaves segment having some 70pc market share, and is also the largest player in Pakistan’s refrigerator segment with up to 45pc market share.

Copyright Business Recorder, 2016

Comments

Comments are closed.