Sea Link Group moves to acquire over 83% stake, control of PICT

Profit by Pakistan Today reported that Sea Link Group Limited has moved to gain control of Pakistan International Container Terminal Limited, using a mix of direct share agreements and a public offer. The move was set out in disclosures lodged with the Pakistan Stock Exchange on Tuesday. The acquirer is aiming for a holding of at least 83.41% in PICT, made up of 79.71% under a share purchase deal and 8.43% through the public offer.

Sea Link Group has already entered into a share purchase agreement covering the 79.71% holding, which forms the bulk of the planned stake. The available text stops partway through the description of that agreement, so its remaining terms, pricing and timelines are not covered in this brief.