Mitchell’s Fruit Farms Considers Strategic Review Amid Interest From CCL Holdings

Mitchell’s Fruit Farms Limited (PSX: MFFL) on Tuesday announced that two of its shareholders who collectively hold 40.63 percent shares of the company’s issued share capital, are conducting a strategic review of their holdings. “Syeda Maimanat Mohsin and Syeda Matanat Ghaffar, holding in aggregate 40.63 percent of the issued share capital of the Company, are undertaking a strategic review and in view of receipt of continued interest from CCL Holdings (Pvt) Limited (CCL),” the company said in a stock filing. The company noted that it has received continued interest from CCL Holdings (Pvt) Limited. The concerned shareholders have requested MFFL that CCL be granted access to due diligence procedures alongside IGI Investments (Pvt) Limited, another interested party. MFFL confirmed that it will proceed with the necessary steps in response to this development. However, any decision regarding the strategic review will be contingent upon regulatory approvals and the finalization of definitive agreements.