Foreign acquisitions and mergers
With the rapid growth in Pakistan's economy, foreign investors are taking a keen interest in the corporate sector of Pakistan. In the recent years, majority stakes in many corporations have been acquired by multinational groups.
- PICIC by Singapore based Tamasek holdings for $339 million
- Union Bank by Standard Chartered bank for $487 million
- Prime commercial bank by ABN Amro for $228 million
- PakTel ltd by China Mobile Ltd for $460 million
- Additional 57.6 percent shares of Lakson Tobacco company acquired by Philip Morris international for $382 million
The foreign exchange receipts from these sale outs are also helping covering the massive current account deficit.
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