Army Welfare Trust has announced on Thursday that it has received an offer from the Fauji Foundation Group for the acquisition of the whole or part of AWT's shareholding in Askari Bank Limited. AWT holds 50.57 percent 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 bank's competitive advantage to play a leading role in the sector and maximise value for its shareholders.-PR