DIB is pleased to announce the successful completion of USD 101 million in financing for D.G. Khan Cement Company Limited (DGKC) to facilitate the acquisition of Rafhan Maize Products Company Limited (RMPL). The financing, structured as a USD 101m Commodity Murabaha Facility, enabled the Nishat Group to acquire a majority stake in RMPL from the USA-based Ingredion Inc.
DIB acted as the Sole Mandated Lead Advisor, Shariah Advisor, Arranger and Financier for this landmark acquisition financing transaction.
The successful completion of the transaction reflects the strength of DIB Group’s platform as an international Islamic bank with deep local market expertise, institutional strength, and extensive Islamic finance capabilities. It further underscores the Bank’s ability to structure and execute sophisticated Shariah-compliant financing solutions for Pakistan’s leading corporates.
Speaking on the occasion, Muhammad Ali Gulfaraz, CEO of DIB Pakistan, highlighted, “This milestone represents another significant achievement for DIB’s Investment Banking team and further demonstrates our ability to deliver bespoke strategic financing solutions that support clients in executing transformational transactions while remaining fully compliant with the principles of Islamic finance”.
The successful execution of this complex transaction was made possible by close collaboration among DIB, DGKC, and the buy-side M&A advisor, Dada Partners. Mohsin Tayebaly & Co. acted as Pakistani Law Legal Counsel, while Hogan Lovells served as English Law Legal Counsel.
This landmark transaction is another huge success for DIB’s strong investment banking team and demonstrates DIB’s ability to offer unique strategic solutions for our clients in Pakistan.
DIB Group wishes to acknowledge the constructive engagement and cooperation of DGKC’s management and the trust placed in DIB by Nishat Group throughout the transaction process, which were instrumental in navigating the complexities of a transaction of this nature and scale. We wish Nishat Group the best in making a success out of this important strategic move.
