Nishat Mills to divest entire stake in Nishat Sutas Dairy

Nishat Mills Limited (NML) has resolved to withdraw from its holding in Nishat Sutas Dairy Limited (NSDL), a joint venture formed with Türkiye's Sütaş Süt Ürünleri A.Ş., according to a notice sent to the Pakistan Stock Exchange. Mettis Global reported that the company cited market and regulatory pressures in the dairy industry, along with a strained financial position at NSDL, as reasons for the move. The board has approved selling its entire 49.10% stake to the joint venture partner, Sutas, at Rs5 per share.

Completion remains conditional on shareholder approval, signed definitive transaction agreements and other legal and regulatory steps. Sutas has indicated it is willing to take over NSDL and keep its operations running, provided those agreements are signed and the required approvals are obtained. The company also said the deal would support ongoing foreign investor participation in Pakistan's economy and reflect a foreign strategic investor's continued commitment to the dairy sector.