Friday, 1 July 2016

Turkish Company acquires Pakistani Company 'Dawlance' for 2,580 CRORE

Dawlance, Pakistan's leading home appliance markers, privately owned by Bashir Dawood, has been acquired by a Turkish company called Arçelik AS Group. Dawlance Group signed the acquisition deal for $258 million (PKR 2580 CRORE). Turkey's Acrelik is the world's 6th largest home appliance maker. This acquisition will not only benefit Turkish company's global operations but will also benefit Pakistan in giving a gesture to the world that Pakistan is a favorable place to invest.

Dawlance and Arcelik have gone through the acquisition deal which will be done by the end of this year after getting the approval from regulatory bodies in both countries. It is worth mentioning here that Dawlance has 16 regional offices across Pakistan with more than 2,000 point of sales and a manufacturing plant in Hyderabad, Sindh.

This seems to be very good news for Pakistan, and it will definitely send a message across the world that Pakistan has investment potential.

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