KARACHI: Unity Foods Ltd stated in a notice to the exchange that the board of directors was considering acquisition of 29.9 million shares of Reem Rice Mills at face value of Rs10 apiece.

It would comprise 100 per cent shares of Reem’s share capital which was currently owned as a joint venture between the East Al-Ghurair Group of UAE and Al Muhaidib of Saudi Arabia.

Unity said that Reem was considered one of the premium basmati brands of Pakistan with access to local and international markets.

Published in Dawn, October 7th, 2020