Nishat Mills to Exit Dairy Business With Turkish Partner

Nishat Mills Limited has sanctioned the sale of its 49.10% stake in Nishat Sutas Dairy Limited to its Turkish joint venture partner, Sutas Sut Urunleri A.S. This decision was made at an emergency board meeting on August 19 in response to pressure on the dairy industry that has impacted the company's finances. The proposed transaction is valued at Rs.

5 per share and requires shareholder approval as well as completion of legal and regulatory formalities. Nishat Mills established Nishat Sutas Dairy as a joint venture with Sutas, a prominent international dairy company based in Turkey. Currently, Nishat Mills owns 49.10% of the dairy company's paid up share capital. Sutas has shown interest in acquiring Nishat Mills' entire stake and continuing the operations of Nishat Sutas Dairy, provided definitive transaction agreements are executed and necessary approvals are obtained.

This transaction aims to encourage continued involvement of foreign strategic investors in Pakistan's dairy sector and the broader economy. Nishat Mills shareholders will deliberate on the transaction at an Extraordinary General Meeting scheduled for September 23, 2026, at the Emporium Mall in Lahore. Share transfer books will be closed from September 17 to September 23, in connection with the Extraordinary General Meeting.