S.

No
.

Brief of Transactoin

NOC
date

Acquisition of shares of M/s. IBL Modaraba Management

Private Limited by Dr. Hasan Sohaib Murad

04-122007

Acquisition of shares of M/s. Wazeer Ali Industries Limited by

M/s. Dalda Foods (Pvt) Limited.

13-122007

Acquisition of shares of M/s. Global Securities Pakistan

Limited by M/s. NIB Bank Limited

31-122007

Acquisition of shares of M/s. Saudi Pak Bank Limited by a

Consortium led by Mr. Shaukat Tarin.

11-012008

Acquisition of shares of M/s. Bosicor Oil Pakistan Limited by

M/s Byco Industries Incorporated

07-022008

Acquisition of shares of M/s. DHL Pakistan (Pvt) Limited by

M/s. Deutsche Post International BV

15-022008

Acquisition of shares of M/s Bosicor Pakistan Limited by M/s.

Byco Industries Incorporated

20-022008

Acquisition of shares of M/s Bosicor Chemicals Pakistan

Limited by M/s. Byco Industries Incorporated

20-022008

Acquisition of shares of M/s Worldcall Pakistan Limited by

M/s. Oman Telecom.

25-022008

10

Acquisition of shares of M/s Makro Habib Pakistan Limited by

M/s Thal Limited.

10-032008

11

Acquisition of shares of M/s. Tenaga Generasi Limited by M/s.

Dawood Lawrencepur Limited.

27-032008

12

Acquisition of shares of Shirazi Group Companies by M/s.

Shirazi Capital (Pvt) Limited.

28-032008

13

Acquisition of shares of M/s Indus Motor Company Limited by

M/s. Toyota Corporation Japan .

29-042008

14

Acquisition of shares of M/s EFU General Insurance Company

by M/s. EFU Life Assurance Company.

02-052008

15

Possible Acquisition of shares of M/s. Heavy Electrical

Complex (Pvt) Limited by M/s. Siemens ( Pakistan ) Engg.
Company Limited.

15-052008

16

Acquisition of shares of M/s. MCB Bank Limited by M/s.

Malayan Banking Berhad

20-052008

17

Acquisition of shares of Agro General Insurance Company by

M/s. The Direct Insurance Company.

21-052008

18

Acquisition of shares of M/s. ABN Amro Bank ( Pakistan )

Limited by a consortium led by The Royal Bank of Scotland
Group PLC.

22-052008

19.

Acquisition of shares of M/s. Pakistan Cement Company

Limited by M/s. Lafarge S .A.

23-052008

20

Acquisition of shares of shares of M/s. Nalco Pakistan (Pvt)

Limited by M/s. Nalco Asia Holding Pte. Ltd.

30-052008

21

Acquisition of shares of shares of M/s. Millat Industrial

Products Limited by M/s. Millat Tractors Limited.

05-062008

22

Acquisition of shares of M/s ICI Pakistan Limited by M/s. Akzo

Nobel N.V.

05-062008

23

Acquisition of shares of M/s Pakistan PTA Limited by M/s.

Akzo Nobel N.V.

05-062008

24

Proposed acquisition of M/s. Hazara Phosphates Fertilizer

Limited by M/s. Pak-American Fertilizer Company Limited .

11-062008

25

Acquisition of shares of M/s. First Capital Investment Limited

by M/s. First Capital Securities Corporation Limited.

19-062008

26

Acquisition of shares of M/s. Shaheen Insurance Company

Limited by M/s. First Capital Securities Corporation Limited.

19-062008

27

Acquisition of shares of M/s. Media Times Limited by M/s.

First Capital Securities Corporation Limited.

19-062008

28

Acquisition of shares of M/s. Pace Barka Properties Limited

by M/s. First Capital Securities Corporation Limited.

19-062008

29

Acquisition of shares of M/s. Unilever Pakistan Limited by

M/s. Unilever Overseas Holding Limited, UK .

25-062008

30

Acquisition of shares of M/s. Shakarganj Food Products

Limited by M/s. KASB Capital Limited.

25-062008

31

Acquisition of Representative Offices of American Express

Bank Limited in Pakistan by M/s. Standard Chartered Bank
Limited.

25-062008

32

Acquisition of shares of M/s. Coca-Cola Beverages Pakistan

Limited by M/s. Coca-Cola Icecek Anonim Sirketi

03-072008

33

Acquisition of shares of M/s. Sweetwater Dairies Pakistan

(Pvt) Ltd

04-072008

34

Acquisition of 75% shares of M/s. Laraib Energy Limited by

M/s. Hub Power Company Limited

03-072008

35

Acquisition of shares of M/s. DHA Cogen Limited by M/s. AEI

Asia Limited

17-072008

36

Acquisition of shares of M/s. Capital Asset Leasing

Corporation by Optimus Limited.

01-082008

37

Acquisition of M/s. Rafhan Maize Products Company Limited

by M/s. Bunge Limited.

01-082008

38

Proposed acquisition of 90 to 100 percent shares of M/s.

Heavy Electrical Complex (Pvt) Limited by M/s. Iljin Electric
Company Limited.

11-082008

39

Acquisition of 62.50% shares of M/s. Al-Asif Sugar Mills

Limited by M/s. Haq Bahu Sugar Mills (Pvt) Limited.

21-082008

40

Acquisition of 27.40% shares of M/s. Vision Network

Television Limited by M/s. Eastgate GEMs SPV3

21-082008

41

Proposed acquisition of M/s. Hazara Phosphate Fertilizers

Limited by a Consortium comprising of M/s. Kissan
Chemicals & Fertilizers (Pvt) Limited and M/s. Chaudhry
Steel Re-Rolling Mills (Pvt) Limited

05-092008

42

Acquisition of 10% shares of M/s.Saif Power Limited by M/s.

Habib Bank Limited.

15-092008

43

Proposed acquisition of M/s. Hazara Phosphates Fertilizer

Limited by M/s. Warble (Pvt) Limited

18-092008

44

Acquisition of shares of Meezan Bank Limited by M/s Noor

Financial Investment Company.

22-092008

45

Acquisition of 05.63% shares of M/s. MCB Bank Limited by

M/s. Adamjee Insurance Company Limited.

25-092008

46

Acquisition of shares of M/s. Karachi Electric Supply

Company by M/s. IGCF SP 21 Limited (Abraaj).

23-102008

47

Acquisition of shares of M/s. BankIslami Pakistan Limited by

M/s. Dubai Banking Group LLC.

28-102008

48

Acquisition of 29% shares of M.s. Sweetwater Dairies

Pakistan (Pvt) Limited by M/s. Unicornn Investment Bank.

31-102008

49

Acquisition of 51% shares of Tameer Microfinace Bank

Limited by Telenor Pakistan (Pvt.) Limited.

27-112008

50

Acquisition of 100% shares of Mobiserve Pakistan (Pvt)

Limited by Mobiserve Holding

Amid the most recent decade mergers and acquisitions (M&A) have gained fame
and for the most part enormous organizations are consolidating. The pattern is not
confined to a specific industry and structure 1994 to 1999 the estimation of
aggregate arrangement in the USA had advanced structure $227 billion to $1.426
trillion in the year 2000 and to about $1.800 trillion after the year 2000.

There are pre-and post-endorse parts of corporate mergers and acquisitions. In the
pre-approval arrange every one of the methods and customs for acquiring the
authorization from government are watched and took after. The post-endorse parts
of mergers begins with the satisfaction of legitimate commitments, re-gathering of
distinctive divisions for setting up better operational control, re-association of
budgetary structure, conditioning up generation and promoting offices, excusing
money related assets, establishment of top administration, solidification of
operations, satisfaction of lawful commitment and so forth.

Definition: M&As' are isolated terms albeit utilized all things considered. It is a type
of corporate re-organizing. "Merger" is a union of two or more firms where one or
both may lose their unique character. It is an exhaustive idea alluding to business
blend to shape a solitary new substance.

"Merger" is essentially of two sorts: "flat and "vertical". Even merger includes union
of two firms in the indistinguishable sort of business (merger of two turning plants,
mergers of two pharmaceutical firms making two indistinguishable items and so
forth). Vertical merger includes union of two firms occupied with diverse phase of
generation procedure (merger of material turning organization with a material

weaving unit or merger of an oil refining organization with an oil showcasing

organization).

"Merger" is a blend of two or more organizations into single element whereby: the
survivor holds the character and legitimate status (if any); survivor secures the
benefits and liabilities of the other personality; and the other element lose their
corporate and lawful element (if any).

An "obtaining" (assimilation and assume control) includes the buy of a substance by

another. No new substance is framed and the element keeps on working under the
bearing and control of the acquirer. "Securing" may be influenced by: a concurrence
with the shareholders holding larger part enthusiasm for the get organization's
administration; buy of shares structure open business sector; make/assume control
offer to the general assortment of shareholders of the organization going to be
obtained; buy of new shares through private arrangement; and by procurement of
offer capital of one organization by issue of shares in real money, issue of credit
capital and so forth.

MBO: Management buyout (MBO) is a type of corporate disinvestment which is

extremely well known in UK, the USA and the European nations. Shareholders offer
their value to the senior administration official or representatives administration
gathering to go on the administration to the organization workers.

Senior administration officials or representatives back the offer buy from their
provident asset or different advantages or pay in real money or a mix of benefit(s)
and money. Such sort of taker over are by and large called "representatives stock
proprietorship arrangement" (ESOP) which give chance to workers to obtain
responsibility for organization. Representatives can likewise organize stores from
the business sector.

The case of ESOP in Pakistan is the Allied Bank LTD, the Millat Tractor LTD; the Exxon
Chemical and so forth.

Drawback: A late overview has inferred that just 45 percent of the combined
organizations have over taken different organizations in the important business
which mirrors the dull side of merger. It further implies that 55 for each penny of the
consolidated organizations did not perform well. The most recent overview of the
KPMG uncovers that two third of M&As' had neglected to accomplish their expressed
objectives.

M7As are for the most part accomplished for the monopolistic force and the
expense sparing for the most part results in the representatives' lay-off. Late daily
paper reports proposes that a large number of workers lost their occupations
because of M&As in Europe, Japan and the USA.

The idea of the M&A has turned out to be more affirmed as of late and generally
"multinational" enterprises are combining yet it is not restricted to these
partnerships alone. At global level it is not confined to a specific industry e.g. (a)
merger of Dailmer/Chrysler; (b) administration suppliers Price water house with
Cooper and lybrand (Chartered Accountants firms), (c) PC manufacturer's: Texas
instruments with Burr Browns (d) Internet organizations: America
online/nestcape/net2phone. In April 2002 Hewlett Packard (HP) declared arranged
merger with "Compaq".

On the normal, seven to ten mergers were reported each day in the year 1999.
Amid 1994 to 1999 the estimation of aggregate M&A arrangement has
progress&.from $227 billion to $ 1.426 trillion and in the year 2000 it has touched
almost $1.800 trillion, up to May :2000 M&A was more declared in the zone of (a) PC
programming supplies and administrations (1,511 arrangements), (b)
correspondence (222 arrangements), (c) financier, venture and administration
consultancy (210 arrangements), (d) electrical hardware (13 bargains) and so forth.

In Europe, M&A is more declared in keeping money and monetary segment which is
valid on account of Japan likewise because of extensive contaminated bank
portfolio.

Pakistani situation: In Pakistan for the most part, there is merger in the same
business (flat merger) and is restricted for the most part to multinational firms.
There are cases of money related area merger also. Cases of money related area
merger particularly in renting and modaraba division (In July 2002, Security Leasing
Corporation LTD reported proposed merger with Lease Pak LTD). Administrative
powers particularly the SBP may seek after banks (particularly littler ones) to
converge with greater banks. In the event that these establishments don't blend the
SBP and the SECP may drive them to do as such.

With the expanded paid-up capital necessities of banks and renting organizations to
Rs1.00 billion and 0.3 billion separately mergers and amalgamation in these two
divisions is inevitable and as of now these are reports of merger of renting
organizations with other renting organizations as well as banks. Protection division
likewise may take action accordingly to meet least capital ampleness necessity.

Material part which very nearly handles 60 for each penny of Pakistan's fare merger
is long over due. As of late the National Development Leasing Corporation (NDLC)
LTD reported merger with IFIC Bank (a Bangladeshi bank).

It is assessed that more than Rs200 billion is soaked in wiped out units which is a
major issue for Pakistan, these can be converged with great gainful units where
doable. Corporate Industrial Restructuring organization (CIRC) can be of
extraordinary 'help around there. A considerable duty point of preference can be
profited which permits aggregated loss of a debilitated modern unit to be set-off
against acquirer's wage in the year of obtaining and two after years.

As of late there-has been expansion of merger and securing exercises in

pharmaceutical industry claimed by multinational organizations. "Boots" (a UK
organization) converged with the BASF (a German organization), Well come
pharmaceuticals (a UK-based organization), converged with Glaxo Pharmaceuticals,
- SK&F with Beecham, meadow Pharmaceuticals LTD, reported amalgamation with
Abbott Laboratories (Pakistan) LTD.

Strings: Mostly merger(s) and acquisition(s) result into representatives sacking. As

indicated by the ILO, almost 300,000 Jobs in Banking and Financial division .of
Europe vanished in the year 2002 because of M&A. High paid employments are
being supplanted by low paid/talented occupations. Almost no consideration is paid
to compassionate perspective - the impact of terminating and employment
diminishment - which is one of the best social issue.

Why merger and procurement for the most part result in occupation decrease and
across the board redundancies must be addressed and settled by every one of the
partners (Regulatory offices, business group, exchange unions, acquirer and
acquiree and every one of the organizations included in merger and so on). In Asia
merger(s) and acquisitions) is for the most part determined by extreme monetary
conditions. Creating nations like Pakistan where as of now livelihood rate is around 7
for each penny ought to address redundancies issues all the more genuinely when
contrasted with created nations (Europe, Japan, U.S.A. and so forth). This may bring
social and in addition monetary catastrophe if not legitimately went to.

Conclusion: M&As ought to be appropriately arranged. The plan ought to be

appropriately taken after. They ought to be nearly checked by administrative
powers (SECP, SBP in Pakistan). Endeavors ought to be made for keeping away from
development of imposing business models and cartels. Human tragedies
(particularly in creating nations) fit as a fiddle of unemployment ought to be stayed
away from concerning as would be prudent.