Karachi: Matco Foods Limited has announced the receipt of a non-binding offer from IGI Investments (Private) Limited for the divestment of its entire shareholding in Matco Corn Products (Private) Limited, according to a disclosure of material information report filed on October 15, 2026. This potential transaction, part of a strategic move by Matco Foods, involves the sale of 100% of the issued and paid-up ordinary share capital of its subsidiary.

The Board of Directors of Matco Foods, through a meeting held on October 15, 2026, has authorized the company's management to engage in discussions with IGI Investments, which is wholly owned by IGI Holdings Limited. The management has been tasked with negotiating the terms and conditions of the proposed divestment and presenting their findings for formal review and approval by the Board.

According to information available from the Pakistan Stock Exchange (PSX), Matco Foods has appointed Arif Habib Limited as the Sell-Side Advisor for this transaction. This appointment marks a significant step forward in the process, as the company seeks to ensure thorough evaluation and strategic alignment in the potential sale.

The resolution passed by the Board underscores the importance of this proposed transaction and the need for careful consideration of all aspects before a final decision is made. As the discussions progress, stakeholders will be keenly observing the developments to assess the impact on both Matco Foods and its subsidiary.