Ahsan Javed Sheikh and Perveen Ahsan made an offer to acquire 57.42% stake in Ravi Textile Mills Limited from a group of sellers for PKR 50.2 million.

Ahsan Javed Sheikh and Perveen Ahsan made an offer to acquire 57.42% stake in Ravi Textile Mills Limited (KASE:RAVT) from a group of sellers for PKR 50.2 million on January 1, 2015. The group of sellers comprise of Universal Equities (Pvt.) Limited, Spintex Enterprises (Private) Limited, Musawar Hussain, Jan Muhammad Imran, Tasbeeha Sarfaraz, Mohammad Sarfaraz, Qamar Sultan, Aftab Sarwar, Muhammad Waseem-ur-Rehman, Muhammad Riaz, Muhammad Shahid, Tahir Majeed, Aamir Khurshid Chandia and Shahbaz Manzoor. Ahsan Javed Sheikh and Perveen Sheikh will acquire 14.4 million shares in the transaction.

As of January 13, 2015, Ahsan Javed Sheikh and Perveen Ahsan entered into an agreement to acquire 57.42% stake in Ravi Textile Mills Limited. As on March 10, 2015, the transaction was approved by the Competition Commission of Pakistan. As of November 2, 2016, sellers filled the suit against the purchasers for the performance of the agreement in the court.

Syed Khurram Shahid of AKD Securities Limited acted as manager for Ahsan Javed Sheikh and Perveen Ahsan.