Hub Power Holdings Limited (HPHL) Enters Shareholders Agreement with Mega Conglomerate for 50% Stake in Mega Motor Company
Hub Power Holdings Limited (HPHL), a wholly owned subsidiary of The Hub Power Company Limited (PSX: HUBC), has entered into a shareholders agreement with Mega Conglomerate (Private) Limited (MCPL). Under the agreement, MCPL will subscribe to and acquire a 50% stake in Mega Motor Company (Private) Limited, as announced by HUBC in a stock filing on Thursday.
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The transaction aims to consolidate the expertise of both HPHL and MCPL, further strengthening their business collaboration with BYD Auto Industry Company Limited.
The completion of this agreement is contingent on receiving the required regulatory approvals and consents, according to the filing.
