ABHI to Acquire Equity Stake in BlueEX

Universal Network Systems Limited (UNSL), operating under the brand name of BlueEX, announced on Wednesday that ABHI Private Limited (ABHI) will acquire an equity stake in the company. In a notice to the Pakistan Stock Exchange (PSX), the company said that the acquisition will make way for Pakistan’s largest platform to tap into fintech & logistics deployment in the retail distribution of products across Pakistan. The notice added that the share purchase agreement between shareholders of UNSL and ABHI has been signed to complete the formalities for the finalization of this transaction. The consummation of the transaction will be subject to the procurement of all applicable regulatory and corporate approvals as may be required. In November last year, UNSL announced that it has received an offer from a fintech company for the acquisition of its 20 percent stakeholding.