FIPCO completes acquisition of Eirad Investment’s stake in FPC Industries

27/04/2020 Argaam

 

Filling and Packing Materials Manufacturing Co. (FIPCO) completed, on April 26, the acquisition of Eirad Investment Co.’s 20% stake in its subsidiary FPC Industries Co.

 

The company said in a bourse statement that it has fulfilled all regulatory requirements, including the execution of FPC Industries Co.’s amended articles of incorporation before the notary public in order to reflect FIPCO’s complete ownership of FPC.

 

Subsequently, FPC is now a limited liability company, fully owned by FIPCO, and all official documents were updated accordingly.

 

On March 2, FIPCO inked an agreement with Eirad Investment Co. to acquire its 20% stake in its subsidiary FPC Industries Co., Argaam reported.

 

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