Unity Wilmar Agro (Private) Limited acquired additional 18.98% stake in Unity Foods Limited (KASE:UNITY) from Muhammad Farrukh, Safdar Sajjad and Fehmida Amin for PKR 1 billion on July 23, 2020. Under the transaction, Unity Wilmar Agro (Private) Limited acquired 103.26 million shares at PKR 10 per share in cash. Muhammad Farrukh sold 40 million shares or 7.35% stake in Unity Foods Limited while Safdar Sajjad sold 21.76 million shares or 4% stake and Fehmida Amin sold 41.5 million shares or 7.63% stake. Following completion of the acquisition, Unity Wilmar Agro (Private) Limited now holds 163.2 million ordinary shares in Unity Foods, representing about 29.99% shareholding interest in Unity Foods. The deal was funded from the internal funds of Unity Wilmar Agro (Private) Limited. The acquisition is not expected to have a material impact on the consolidated net tangible assets and earnings per share of Wilmar International Limited, ultimate parent of Unity Wilmar Agro (Private) Limited, for the financial year ending December 31, 2020. Unity Wilmar Agro (Private) Limited completed the acquisition of additional 18.98% stake in Unity Foods Limited (KASE:UNITY) from Muhammad Farrukh, Safdar Sajjad and Fehmida Amin on July 23, 2020.