MTC Engaged By Engro Group For Strategic Partnership With Jazz And Veon Group

Mohsin Tayebaly & Co. acted as legal counsel on behalf of Engro group for its strategic partnership with Pakistan Mobile Communications Limited (“Jazz”) and its parent company VEON Group, marking a significant step forward in expanding Pakistan’s digital connectivity. This initiative aims to drive affordable, widespread access to telecommunication services, supporting national efforts to bridge the digital divide.

Through a scheme of arrangement, Jazz’s telecom infrastructure assets, housed under its wholly owned subsidiary Deodar (Private) Limited (“Deodar”), will vest into Engro Connect, a subsidiary of Engro Corporation. Engro will guarantee the repayment of Deodar’s debt of USD 375 million and provide Jazz with an additional USD 187.7 million. The transaction is subject to corporate, legal, and regulatory approvals.

Our scope of work included full-scope buy-side advisory.

MTC’s team in this matter was led by Vaseeq Khalid (Partner) and included Sanaa Ahmed (Senior Associate), Laraib Saba Turk (Senior Associate), Sameer Tayebaly (Senior Associate), Kanza Rizvi (Senior Associate), Iftikhar Khan (Senior Associate), Kamil Tayebaly (Associate), Hibah Habib (Associate) and Maham Majeed (Associate).