Dawood Hercules to be rebranded as Engro Holdings

Dawood Hercules (DH) Corps and Engro Corps have approved a proposal for the restructuring of the already present shareholding between both the companies. The aim for the approval of this restructuring plan is to increase investment opportunities of the enterprise and the plan is to be approved finally by the Board and shareholders.

DH Corps is a primary allocation firm responsible and experienced in deployment of funds to a wide range of sectors and assets whereas Engro Corps has a very successful track record of managing large scale industrial projects in 5 business verticals. This proposed restructuring aims to enable an approach that further widens investment opportunities for the stakeholders in such challenging conditions.

The restructuring is said to be following a two-step process. One is the rebranding of DH Corps as Engro Holdings Limited, and second would be Engro Corps becoming a completely owned subsidiary of Engro Holdings. Due to this plan, increased investment efforts at the Engro Holdings level will enable capital from Engro’s businesses to be efficiently deployed to a wider set of opportunities, which is advantageous to shareholders of both companies. Engro Holdings current shareholders would benefit from streamline capital movement between the two entities and Engro Corp’s current shareholders would take benefit from a wider investment mandate, as well as from Engro Holdings investment expertise. According to Chairman Hussain Dawood, “This restructuring is an extension of our unstoppable commitment to progress, and is in accordance with the interests of all shareholders, employees, and communities connected to Engro. By widening our investment horizon, Engro will be further enabled in partnering with Pakistan to solve some of the most serious issues of our time.”