IGI Investments, a wholly-owned subsidiary of IGI Holdings Limited (PSX: IGIHL), has announced its intention to acquire a 40.63% stake in Mitchell’s Fruit Farms Limited (MFFL). This strategic move was disclosed in a stock filing following the company’s Board of Directors meeting on December 11, 2024.

The board has given its in-principle approval to evaluate and conduct due diligence for the potential acquisition. The proposed transaction involves purchasing up to 40.63% of MFFL’s shareholding from two major shareholders, Syeda Maimanat Mohsin and Syeda Matanat Ghaffar.

The acquisition will proceed in compliance with applicable laws, including the Securities Act, 2015, and will require the fulfillment of necessary corporate and regulatory approvals.