Nishat Mills Limited (NML) shareholders have formally approved the sale of the company’s entire 49.10% stake in Nishat Sutas Dairy Limited (NSDL) to Türkiye-based dairy giant Sütaş Süt Ürünleri A.Ş. for approximately Rs2.05 billion.
The decision was sealed via a special resolution passed during Nishat Mills’ extraordinary general meeting (EGM) on September 23, 2026, according to official filings submitted to the Pakistan Stock Exchange (PSX).
Key Highlights of the Deal
- Transaction Size: Nishat Mills will divest all of its 409,673,410 ordinary shares in the associated dairy venture.
- Agreed Price: The shares are being acquired at Rs5 per share, bringing the total deal consideration to Rs2,048,367,050 (~Rs2.05 billion).
- Buyer: Sütaş Süt Ürünleri A.Ş., one of Türkiye’s leading dairy product manufacturers, which will now take full operational ownership.
Next Steps and Approvals
The execution of the sale remains subject to obtaining all mandatory regulatory clearances.
To ensure seamless implementation, shareholders authorized Nishat Mills’ Chief Executive Officer and Company Secretary to sign the Share Sale and Purchase Agreement (SSPA), complete transfer documentations, and submit all required statutory filings with the Securities and Exchange Commission of Pakistan (SECP), the Registrar of Companies, and relevant regulatory bodies.
