Beacon Impex (Private) Limited intended to acquire 34.5% stake in Khurshid Spinning Mills Limited from Khawaja Amer Khurshid and Khawaja Asem Khurshid on May 7, 2018. Beacon Impex (Private) Limited entered into share purchase agreement to acquire 34.5% stake in Khurshid Spinning Mills Limited from Khawaja Amer Khurshid and Khawaja Asem Khurshid for PKR 9.1 million on October 15, 2018. As per terms of consideration, Beacon Impex (Private) Limited will acquire total 4.5 million shares of which 2.3 million shares from Khawaja Amer Khurshid and 2.2 million shares from Khawaja Asem Khurshid at PKR 2 per share in cash. In a related transaction, Beacon Impex (Private) Limited made an offer to acquire 32.7% stake in Khurshid Spinning Mills Limited on May 7, 2018. Post completion of both the transactions, Beacon Impex (Private) Limited will hold up to 67.25% stake in Khurshid Spinning Mills Limited. The transaction is subject to consummation of due diligence by Beacon Impex (Private) Limited, obtaining of all relevant corporate and regulatory approvals. Beacon Impex (Private) Limited acquired 34.5% stake in Khurshid Spinning Mills Limited from Khawaja Amer Khurshid and Khawaja Asem Khurshid on April 8, 2019.