PIACL | Pakistan

ISLAMABAD: The Pri­­vatisation Commis­sion has granted access to the virtual data room of Pakistan International Airlines Corporation Limited (PIACL) to four shortlisted parties for conducting buy-side due diligence ahead of the airline’s privatisation. The commission infor­med the National Asse­m­bly Standing Committee on Privatisation on Mon­day that the pre-qualification committee had fi­­nalised four entities — a consortium comprising Lucky Cement Ltd, Hub Power Holdings Ltd, Kohat Cement Company Ltd and Metro Ventures Limited; a consortium comprising Arif Habib Corporation Ltd, Fatima Fertiliser Company Ltd, The City School Ltd, and Lake City Holdings Ltd; Fauji Fertiliser Company Ltd; and Air Blue. The virtual data room — an online repository used for document stora­­ge and sharing — facilita­tes due diligence proces­ses typically associated with mergers and acquisitions, loan syndication, private equity and venture capital transactions. A meeting of the standing committee, chaired by Muhammad Farooq Sa...