KARACHI: Lucky Core Venture Private Ltd (LCV), a wholly owned subsidiary of Lucky Core Industries (LCI), has terminated the share purchase agreement (SPA) signed in January 2023 with Lotte Chemical Corporation (LCC) for the acquisition of1.135 billion ordinary shares of Lotte Chemical Pakistan Ltd (LCPL), constituting approximately 75pc of the issued capital of LCPL.
In a stock filing on Friday, the company said the conditions required for completion could not be met within the stipulated time in the SPA and accordingly LCV has decided not to proceed with the transactions.
Published in Dawn, January 13th, 2024
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