Lucky Core Ventures (LCV), a subsidiary of Lucky Core Industries Limited (LCI), has terminated a Share Purchase Agreement (SPA) with Lotte Chemical Corporation (LCC) for the acquisition of over 1.13 billion shares of its affiliate Lotte Chemical Pakistan Limited (LOTCHEM). This was shared in a notice to the Pakistan Stock Exchange (PSX) on Friday. The conditions required for completion could not be met within the time stipulated in the SPA, so the transaction will not proceed. LCI, which used to be ICI Pakistan Ltd, is a publicly listed company in Pakistan engaged in businesses such as polyester, soda ash, chemicals & agri sciences, pharmaceuticals, and animal health. The company makes and trades various products including polyester staple fibre (PSF), soda ash, chemicals, pharmaceuticals, nutraceuticals, animal health products, and agricultural products.

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By hassani

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