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Portfolio Exits

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Partners & Customers

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Latest EnGro News

Engro signs PKR 4,500 million Islamic syndicated facility with Meezan Bank to enhance telecom

Sep 14, 2021

Engro Enfrashare, a wholly-owned subsidiary of Engro Corporation, has entered into an Islamic syndicate arrangement amounting to PKR 4,500 million, led by Meezan Bank and Faysal Bank. The proceeds raised through this Islamic syndication would be utilized to finance the development of tower sites for various mobile network operators (MNOs) operating in Pakistan. As per terms of the financing arrangement, the tenor of the financing will be seven years, including a grace period of two years. The syndicate includes Meezan Bank Limited, Faysal Bank Limited, National Bank of Pakistan, MCB Islamic Bank, and Allied Islamic Bank. Last month, Engro had announced to enhance its total equity investment in the Telecom Infrastructure Vertical to PKR 21,500 million. The Telecom Infrastructure vertical was set up in 2019 to accelerate the development of connectivity infrastructure in Pakistan, thereby providing an opportunity for the people to be part of the new digital era. Engro Enfrashare is engaged in the acquisition and construction of shared telecom towers, provision of various telecommunication infrastructure, and related services, including state-of-the-art network monitoring solutions. Since its inception, the Company has now established strong relationships with all MNOs active in Pakistan and is working closely with them to develop build-to-suit (B2S) sites across the country to serve their coverage and capacity requirements. According to Ghias Khan, President & CEO Engro Corporation, “Engro is committed to expanding its footprint in the Telecom Infrastructure vertical to power Pakistan’s progress in the digital era. With the support of banking partners like Meezan Bank, Engro Enfrashare will continue to work towards its purpose of making connectivity more accessible and affordable for everyone.” Irfan Siddiqui, Founding President & CEO, Meezan Bank, added that digitization would be a major element driving business success in the era we are entering into. Meezan Bank is not only the country’s leading Islamic Bank but also the Best Bank in Pakistan, not only understands the significance of telecom infrastructure but also encourages companies to build strong telecom infrastructure that would support their digitization initiatives and enable them to deliver a better customer experience. A signing ceremony of the agreement was signed at the Head Office of Engro Corporation, in the presence of Ghias Khan (President & CEO, Engro Corporation), Mazhar Hasnani (Chief Financial Officer, Engro Corporation), Faisal Sattar (CEO, Engro Enfrashare), Irfan Siddiqui (President & CEO, Meezan Bank), Ariful Islam (Deputy CEO of Meezan Bank), Yousaf Hussain (President & CEO, Faysal Bank) and other senior representatives of both institutions. 0share

EnGro Investments

1 Investments

EnGro has made 1 investments. Their latest investment was in AXSUN Technologies as part of their Series B on January 1, 2000.

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EnGro Investments Activity

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EnGro Portfolio Exits

1 Portfolio Exit

EnGro has 1 portfolio exit. Their latest portfolio exit was AXSUN Technologies on December 08, 2008.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/8/2008

Acquired

$991

Date

12/8/2008

Exit

Acquired

Companies

Valuation

$991

Acquirer

Sources

EnGro Partners & Customers

9 Partners and customers

EnGro has 9 strategic partners and customers. EnGro recently partnered with DuPont Sustainable Solutions on June 6, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

6/16/2021

Partner

DuPont Sustainable Solutions

United States

Engro Corporation and DuPont Sustainable Solutions Establish Partnership to Better Manage Risk Across Group Companies.

DuPont Sustainable Solutions and Engro Corporation Limited have finalized a partnership agreement to introduce a risk-based framework , programme , and methodology that will allow for consistent , sustained management of risk exposure across all group companies .

2

5/19/2021

Vendor

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10

4/30/2020

Vendor

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10

3/20/2019

Vendor

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10

11/29/2017

Partner

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10

Date

6/16/2021

5/19/2021

4/30/2020

3/20/2019

11/29/2017

Type

Partner

Vendor

Vendor

Vendor

Partner

Business Partner

DuPont Sustainable Solutions

Country

United States

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News Snippet

Engro Corporation and DuPont Sustainable Solutions Establish Partnership to Better Manage Risk Across Group Companies.

DuPont Sustainable Solutions and Engro Corporation Limited have finalized a partnership agreement to introduce a risk-based framework , programme , and methodology that will allow for consistent , sustained management of risk exposure across all group companies .

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Sources

2

10

10

10

10

EnGro Team

1 Team Member

EnGro has 1 team member, including former Managing Director, Lawrence Ang.

Name

Work History

Title

Status

Lawrence Ang

Managing Director

Former

Name

Lawrence Ang

Work History

Title

Managing Director

Status

Former

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