United Brands Limited informed Pakistan Stock Exchange that the Board of Directors of the Company at their meeting held on January 9, 2020, have in-principle approved the merger / amalgamation of its associated entity, IBL Operations (Private) Limited, with and into the Company. Furthermore, the Company has also been authorized to appoint advisors and consultants for evaluating the said transaction and preparing necessary documents with respect to the above.

The announcement is available at:

https://dps.psx.com.pk/download/document/141344.pdf

United Brands Limited is a company incorporated in Pakistan by the name of UDL industries Limited in 1965. Later the name of the company was changed for expansion of the existing operations. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activities of the company are trading and distribution of consumer goods, allioed products and pharmaceuticals. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan. The registered office of the company is located in Karachi.

United Brands Limited is Marketing, Selling and Distribution Company engaged in marketing, selling and distribution of a wide range of various products.

The symbol "UBDL" is being used by the stock exchanges for the shares of United Brands Limited.

© Pakistan Press International, source Asianet-Pakistan