Chashma Sugar Mills Limited (CHAS), one of the largest sugar mills in the country, announced on Thursday that the amalgamation of the company with its wholly-owned subsidiary, Ultimate Whole Foods (Private) Limited was completed.
The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday.
“With effect from June 10, 2025, all assets, liabilities, rights, and obligations of the Transferor Company have vested in Chashma Sugar Mills Limited as per the approved Scheme of Amalgamation,” the company informed the bourse.
It added that the strategic move is expected to streamline operations, improve administrative efficiency and strengthen the Group’s financial and operational position in the long term.
Last month, the mills had approved the amalgamation, saying that the application containing scheme of amalgamation had been submitted to the Securities and Exchange Commission of Pakistan (SECP) for approval, and the amalgamation process has formally commenced.
CHAS is principally engaged in manufacturing, production, processing, compounding, preparation and sale of sugar, other allied compounds, intermediates and allied products.
The company is a subsidiary of The Premier Sugar Mills and Distillery Company Limited.
