Islamabad, Dec 5: Hub Power Holdings Limited (HPHL), a fully owned subsidiary of The Hub Power Company Limited (PSX: HUBC), has entered into a shareholder’s agreement with Mega Conglomerate (Private) Limited (MCPL).
As part of the agreement, MCPL will acquire a 50% stake in Mega Motor Company (Private) Limited, according to a filing by HUBC on Thursday.
The purpose of the transaction is to leverage the combined expertise of both HPHL and MCPL, aiming to enhance their business venture with BYD Auto Industry Company Limited.
The agreement’s completion is contingent upon obtaining the required regulatory approvals and consents.
