5 April 2018 12:02 am
Softlogic Holdings 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), 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 part of the restructuring process, a stock market filing said.