Prime Bank Investment Limited successfully facilitates two merger & acquisition deals for Magura Group

Prime Bank Investment Limited (PBIL) successfully completed two significant Merger & Acquisition (M&A) of listed concerns for Magura Group, solidifying its position as a leading investment bank in Bangladesh.

Pearl Paper and Board Mills Limited (Transferor) merged with Bangladesh Monospool Paper Manufacturing Co Ltd (Transferee & Listed Concern), while Magura Paper Mills Limited (Transferor) merged with Paper Processing & Packaging Limited (Transferee & Listed Concern), according to a media release.  

Both mergers received approval from the High Court Division of the Supreme Court of Bangladesh on November 27, 2023, and subsequently received consent from the Bangladesh Securities & Exchange Commission (BSEC) on January 30, 2024.

The transactions aimed to raise paid-up capital as per regulatory requirements, enhance management efficiency, and foster growth in respective markets.

As the advisor, PBIL played a crucial role in structuring the deals, preparing amalgamation schemes, and liaising with legal representatives and regulatory bodies, the release says.

Khandoker Raihan Ali, FCA, COO of PBIL, in a programme, emphasised the firm's commitment to efficient deal execution and regulatory compliance.

Syed M Omar Tayub, Managing Director & CEO of PBIL, highlighted the significance of these M&A in the current business landscape and reaffirmed PBIL's dedication to serving as a trusted advisor for corporations and financial institutions seeking strategic mergers.

Mustafa Kamal Mohiuddin, Chairman of Magura Group, praised PBIL's expertise and leadership in navigating complex M&A transactions and expressed satisfaction with their professionalism and proficiency, the release adds.