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habib bank

PC hands over Habib Bank to Aga Khan Fund

Prime Karm Aga Khan IV with Prime Minister Shaukat Aziz  2006-01-01
Source: 
dawn.com

ISLAMABAD, Feb 26: Pakistan on Thursday handed over its second largest bank - Habib Bank Limited (HBL) - to Aga Khan Fund for Economic Development (AKFED) against a two-phased Rs22.409 billion highest bid for 51 per cent shares along with management control received in December last year.

Secretary Privatization Ahmed Waqar and Sultan Allana signed the transfer of management agreement on behalf of the Privatization Commission and AKFED respectively. Finance Minister, Shaukat Aziz and Privatization Minister Abdul Hafeez Shaikh witnessed the signing ceremony.

AGA KHAN FUND OFFERS HIGHEST BID FOR PAKISTAN'S LARGEST BANK - 2003-12-30

AKFED invested in Habib Bank Ltd., which was privatised by the Pakistan government.  2004-02-26

ISLAMABAD: The Aga Khan Fund for Economic Development (AKFED) on Monday gave the highest bid of Rs 22.409 billion ($389 million) for acquiring 51 per cent strategic stake in Habib Bank Limited (HBL). It was the biggest transaction in the history of Pakistan.

(AKDN reports below)


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