ISLAMABAD, Feb 9: The Lyallpur Chemicals and Fertilisers Limited was on Friday handed over to its new owner and successful bidder, the Al-Hamd Chemicals (Pvt) Ltd, Lahore, on receipt of Rs280.20 million.

A share purchase agreement was signed on Friday on receipt of full payment of Rs280.20 million from the Al-Hamd Chemicals for the purchase of minimum of 100 per cent shares of Lyallpur Chemicals and Fertilisers at the rate of Rs280.20 per share.

The agreement was signed under the chairmanship of Zahid Hamid, Federal Minister for Privatisation and Investment.

The buyer had already deposited earnest money of Rs40,000,000 and 25 per cent of the bid amount i.e. Rs70,050,000 and on payment of the remaining amount of Rs170,150,000, the agreement was signed.—APP