4 April 2018 10:04 am
Softlogic Hldings PLC has incorporated a new company to house its retail sector subsidiaries to consolidate all its retail operations under one arm.
Accordingly, Softlogic Communication Services (Pvt) Ltd., Softlogic Mobile Distribution (Pvt) Ltd., and Softlogic International (Pvt) Ltd., have been transferred to the newly incorporated Softlogic Retail Holdings (Pvt) Ltd., (SRH) which is a fully owned subsidiary of Softlogic Holdings, for a consideration of Rs.2.09 billion.
Also, 99.9 percent of Softlogic Retail (Pvt) Ltd., held by Softlogic Holdings has been transferred to SRH for a consideration of Rs.4.18 billion.
Further, the group ownership of Softlogic Restaurants (Pvt) Ltd., and Odel PLC will also be transferred to SRH as a part of the restructuring process, a stock market filing said.