The Nishat Group has dismissed social media reports claiming any changes in ownership or redevelopment plans involving Rafhan Maize Products Company, calling the information false and unverified.
In a statement, Mian Mohammad Mansha clarified that the group has seen misleading claims circulating online about Nishat Group and Rafhan Maize, and emphasized that no proposal regarding ownership changes or redevelopment has been approved or is under consideration.
He urged the public and media to avoid spreading unverified or speculative information.
The clarification comes after recent reports referencing a Competition Commission of Pakistan (CCP) approval related to a separate transaction. The CCP had earlier cleared a Phase I review under the Competition Act, 2010, involving the acquisition of shares in Rafhan Maize Products Company.
That transaction included a consortium of buyers linked to Nishat Group entities as well as associated individuals, acquiring shares from Ingredion Incorporated and other minority shareholders. The acquiring parties include several Nishat Group-linked companies operating across sectors such as cement, energy, hospitality, and textiles.
