Crescent Star Insurance Limited (KASE:CSIL) entered into a Memorandum of understanding to acquire Bil Foods Limited in May 2017. Post completion, Bil Foods Limited will operate as a subsidiary of Crescent Star Insurance Limited. Amer Kama will continue to head the operations of Bil Foods Limited. The transaction is subject to consummation of due diligence. Crescent Star Insurance Limited (KASE:CSIL) cancelled the acquisition of Bil Foods Limited on June 25, 2018.