Italy firm acquires 50pc shareholding in Pakistani rice company
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
A leading European agricultural production and food trading holding company in Italy has acquired 50 percent shareholding in a Pakistani company engaged in paddy rice procurement and processing.
The acquisition deal, approved by the Competition Commission of Pakistan on Thursday, will boost the country’s rice exports and foreign investment in Pakistan.
This acquisition, under a share purchase agreement, represents a major advancement in attracting foreign direct investment to Pakistan, as global agribusiness leaders recognize the country’s agricultural potential.
Euricom SPA is renowned for its expertise in farming, processing, and trading of rice products. By acquiring a stake in Fatima Euricom Rice Mills, a Pakistan-based company engaged in paddy rice procurement and processing, the company aims to tap into Pakistan’s rich agricultural potential.
Reference Link:- https://www.dawn.com/news/1861423
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
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