P&G to sell its soap manufacturing business to NICL
P&G Pakistan has entered into an agreement with Nimir Industrial Chemicals Limited (NICL) to sell its soap manufacturing assets located in Hub, Balochistan.
The plant currently produces Safeguard soap.
Upon completion of the transaction, the Hub plant will continue to produce Safeguard soap for P&G but will be owned by NICL.
Both companies have received approval from the Competition Commission of Pakistan to proceed with this transaction.
The asset acquisition is expected to be completed by September 1, 2024.
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