Waves Singer Pakistan Limited (KASE:WAVES) agreed to acquire Cool Industries (Pvt) Ltd. from Haroon Ahmad Khan, Nighat Haroon Khan, Javaid Akhtar Butt along with his family and Muhammad Tariq Malik for PKR 3.9 billion on November 27, 2017. According to the consideration Singer Pakistan Limited will issue 93.975 million shares to the shareholders of Cool Industries (Pvt) Ltd. Haroon Ahmad Khan holds 60%, Nighat Haroon Khan holds 20% stake , Javaid Akhtar Butt along with his family hold 10% stake and Muhammad Tariq Malik holds 10% stake in Cool Industries. In a related deal, Singer Pakistan Limited agreed to acquire Link Wel (Private) Limited for approximately PKR 100 million and Electronics Marketing Company (Private) Limited agreed to acquire retail business from Singer Pakistan Limited on November 27, 2017. The transaction is subject to approval of shareholders and Board of both Singer Pakistan Limited and Cool Industries, regulatory approval, approval of creditors and High Court of Sindh. The transaction was approved by the Board of Directors of Singer Pakistan Limited as on November 27, 2017. On May 22, 2018, the transaction was sanctioned by the Honourable Sindh High Court. Deloitte Yousuf Adil acted as accountant to Cool Industries. Waves Singer Pakistan Limited (KASE:WAVES) completed the acquisition of Cool Industries (Pvt) Ltd. from Haroon Ahmad Khan, Nighat Haroon Khan, Javaid Akhtar Butt along with his family and Muhammad Tariq Malik on June 28, 2018.