KARACHI: Fauji Fertilizer Bin Qasim (FFBL) has been approached by Fauji Fertilizer Company (FFC) with a non-binding Letter of Intent for the contemplated acquisition of FFBL’s shareholding in Foundation Wind Energy – I and Foundation Wind Energy – II (public unlisted companies).

It shall be noted that the non-binding Letter of Intent is subject to negotiation and execution of definitive documentation, completion of procedural formalities and requisite corporate approvals and relevant Regulatory Authorities, disclosure of material information sent to Pakistan Stock Exchange on Friday said.

FFBL will keep the exchange informed of material developments as and when definitive documentation is agreed and executed.

Copyright Business Recorder, 2021