FF Group set to acquire stake in Askari Bank

LAHORE - The Army Welfare Trust (AWT) has announced that it has received an offer from the Fauji Foundation Group for the acquisition of the whole or part of AWTs shareholding in Askari Bank Limited, says a Press release. AWT holds 50.57pc shares of Askari Bank. The offer represents a major milestone in the continuing endeavours of both the FF Group and AWT to create synergies. The resultant arrangement would provide the platform for maintaining and strengthening the banks competitive advantage to play a leading role in the sector and maximize value for its shareholders.

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