07.12.24
Proctor & Gamble Pakistan (P&G) has entered an agreement with Nimir Industrial Chemicals Limited (NICL) to sell its soap manufacturing assets located in Hub, Balochistan.
The facility currently makes Safeguard soap.
Once the transaction is finalized, the Hub facility will continue to manufacture Safeguard soap for P&G but will be owned by NICL.
Both companies have received approval from the Competition Commission of Pakistan to proceed with the transaction.
The acquisition of assets is expected to be completed by September 1, 2024.
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