Shareholders of Merit Packaging Limited (MPL) have approved the sale of major assets, including the plant and machinery of its flexible packaging unit and associated goodwill, for a total consideration of Rs1 billion.
The listed company, engaged in the manufacture and sale of printing and packaging materials, disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Monday.
The decision was passed during an Extraordinary General Meeting (EGM) held on June 27, 2025. The buyer, Kompass Pakistan (Private) Limited, submitted the best available offer, which was accepted by the company following due evaluation, MPL said.
“The consent of shareholders be and is hereby accorded to the disposal and sale of the Company’s assets comprising of plant and machinery (flexible packaging unit) and goodwill located at 17-B, Sector 29, Korangi Industrial Township, Karachi for an aggregate sale consideration of Rs1,000,000,000 based on the best available quote from the interested party,” read the notice.
It said that the Board of Directors has been authorised to execute the transaction, including entering into sale agreements, receiving payment, and handling all legal formalities related to the asset transfer.
At the time of filing this story, the share price of Merit Packaging Limited was being traded at Rs14.30, an increase of Re0.35 or 2.51%.
Incorporated in Pakistan as a public limited company in 1980, MPL is engaged in the manufacturing and sale of printing and packaging materials.
The company caters to a wide range of sectors including food & beverages, surgical instruments, consumer goods, textiles, etc. The company belongs to The Lakson Group of companies.
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