IGI Holdings subsidiary moves to acquire up to 100% stake in Matco Corn Products

Profit by Pakistan Today reported that IGI Investments, a fully owned unit of IGI Holdings, is pursuing a purchase of up to 100% of the shares in Matco Corn Products from Matco Foods. The report cites filings that both listed companies lodged with the PSX on Thursday. Matco Foods confirmed that IGI Investments had made a proposal, not binding, to buy its full holding in Matco Corn Products, equal to the entire paid-up capital of that unit. The Matco Foods board gave management authority on October 15, 2026 through a circular resolution to hold talks with the prospective buyer, and final terms must return to the board for approval.

Matco Foods has also named Arif Habib Limited as its sell-side adviser. In a separate filing, IGI Holdings said its subsidiary's board gave in-principle approval to assess the deal and carry out due diligence on Matco Corn Products. The acquisition still depends on satisfactory due diligence, a settled structure, an agreed price, signed definitive agreements and corporate and regulatory clearances.

Neither company has disclosed the deal value or a completion timetable. The documents show the talks are still preliminary, with nothing binding signed and no final board sign-off on a sale yet. Matco Corn Products is a private firm that makes and sells corn starch products, and both companies noted that more disclosures will come under regulatory rules as talks advance.