The Board of Directors of Sanofi-Aventis Pakistan Limited (PSX: SAPL) has given the green light for a significant change—the company’s name will soon transition to “Hoechst Pakistan Limited,” according to an official filing made on the Pakistan Stock Exchange (PSX) today.
However, this proposed transformation is contingent upon obtaining the necessary corporate and regulatory approvals, along with the completion of requisite legal formalities as dictated by applicable laws.
This decision follows the Registrar of Companies’ issuance of a confirmation regarding the availability of the name “Hoechst Pakistan Limited.”
Crucially, this alteration of the company’s name will not exert any influence on its core line of business. The name change is being executed in accordance with the Share Purchase Agreement inked between Sanofi Foreign Participations B.V (Sanofi) and a consortium of investors, comprising Packages Limited, IGI Investments (Private) Limited, and affiliates of the Arshad All Gohar Group.
In April 2023, this Investor Consortium assumed ownership of the entirety of Sanofi’s 52.87% shareholding in the company, in adherence to the terms laid out in the Share Purchase Agreement.
The proposed name, “Hoechst Pakistan Limited,” resonates with the company’s rich historical journey since its inception in Pakistan. Established in 1967, it embarked on pharmaceuticals and specialty chemicals manufacturing in 1972 and subsequently went public in 1977.
This rebranding effort is a testament to the company’s evolution over the years and underscores its commitment to embracing its heritage while adapting to the changing business landscape. The forthcoming change aims to encapsulate the company’s legacy and legacy of accomplishments, reflecting its growth and transformation since its inception.