Taufika Foods and Lovello Ice-Cream PLC have announced plans to acquire a 50% stake in Sharika Foods & Amandala Ltd for Tk 5 million.

The investment involves purchasing 0.5 million shares at Tk 10 each, as disclosed on the Dhaka Stock Exchange (DSE) website today.

The acquisition will be funded from Lovello’s earnings and is subject to shareholder approval at the company’s upcoming 13th annual general meeting.

Following the announcement, Lovello’s share price fell by 1% to Tk 88.8 on the DSE.