MFL receives non-binding offer from IGI Investments for 100% stake in Matco Corn Products

Mettis Global reported that Matco Foods Ltd (PSX: MFL) has received a non-binding proposal from IGI Investments (Private) Ltd, which is seeking to purchase its whole stake in a subsidiary, Matco Corn Products (Private) Ltd. The offer would take in 100% of that subsidiary's ordinary shares, and the company informed the Exchange through a formal notification.

IGI Investments is wholly owned by IGI Holdings Ltd, and the pair are collectively called the potential acquirer. On October 15, 2026, the board weighed the proposal and gave management authority to negotiate with that acquirer over the divestment. Any final decision on the terms must come back before the board for a formal sign-off.

Arif Habib Ltd has been named sell-side advisor on the deal. The company has committed to further disclosures under the applicable rules as the transaction moves ahead and significant developments emerge.