KARACHI, July 1 Suroor Investment Ltd has acquired 297.034 million ordinary shares of Arif Habib Bank Ltd for Rs2.673 billion at Rs9 per share under share purchase agreement, subject to the necessary regulatory approval.

According to a communique sent to KSE here on Wednesday, this is in continuation of the memorandum of understanding (MoU) and head of terms signed between Arif Habib Securities Ltd and Hussain Lawai on October 18 and December 24, 2008, respectively.

Suroor Investment Ltd is incorporated in Mauritius. —APP