Shan Foods Clarifies Rumors About Acquisition by Unilever Pakistan
In a new wave of information being dispersed on social media, it is being said that a multinational giant has acquired Shan Foods.
A tweet was shared that claimed that a multinational giant has acquired Shan Foods had gone viral.
It was also shared that Unilever, the Multinational Giant is the one to acquire 51% stakes of Shan Foods for an astounding 1.2 Billion USD.
It is being said that this move could have been a part of Shan Foods’ expansion plans which were announced last year. In May 2018, Shaan had started looking for an IPO (Initial Public Offering). It was also indicated that this expansion might take place in 2020.
Media reports also say that Unilever Group plans to invest the US $120m in Pakistan over the next two years.
However, all claims and speculations have been denied by Shan Foods.
Shan Foods has put forward a holding statement on all of their social media pages along with their website claiming that these speculations are just a rumour.
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