Chashma Sugar Mills Limited (PSX: CHAS), one of the largest sugar mills in the country, has completed the amalgamation process with its wholly-owned subsidiary Ultimate Foods (Private) Limited.
The company made the announcement in a notice to the Pakistan Stock Exchange (PSX) on Thursday.
In continuation of our earlier Material Information submitted to the Exchange regarding the approval of the Scheme of Amalgamation between Chashma Sugar Mills Limited (Transferee Company) and its wholly-owned subsidiary Ultimate Whole Foods (Private) Limited (Transferor Company), we are pleased to inform you that the amalgamation process has now been completed, the notice reads.
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The strategic move is expected to streamline operations, improve administrative efficiency and strengthen the group’s financial and operational position in the long term.
