Army Welfare Trust intends to acquire 51% stake in East West Life Assurance Company Limited (KASE:EWLA) on March 28, 2016. Army Welfare Trust will acquire 30.3 million shares of East West Life Assurance Company. As per addendum on March 30, 2016, Army Welfare Trust intends to acquire 51% stake through agreement. Army Welfare Trust got an extension of 90 days from securities and exchange commission of Pakistan as of September 22, 2016. Grant Thornton Consulting Private Limited acted as financial advisor to Army Welfare Trust. Army Welfare Trust intends cancelled the acquisition of 51% stake in East West Life Assurance Company Limited (KASE:EWLA) on on January 09, 2017.