Fauji Foods owns the Nurpur dairy brand

Fauji Foods owns the Nurpur dairy brand

Inner Mongolia Yili Industrial Group Co., one of China's largest dairy businesses, has been given more time to come up with a public offer for Pakistan's Fauji Foods.

Yili first disclosed its interest in acquiring the Pakistan dairy firm Fauji Foods, a subsidiary of Fauji Fertilizer Bin Qasim Ltd., to the Shanghai Stock Exchange in July. At the time, Yili was seeking to buy a 51% stake in the company, which markets a range of dairy and juice products under the brand name Nurpur.

In a notice filed with the Pakistan Stock Exchange this week, Fauji Foods said the country's Securities and Exchange Commission had granted Yili a 90-day extension until 29 April to put in a public offer for the Lahore-based business.

Formerly Noon Pakistan Ltd., Fauji Foods' origins date back to 1966. It owns a plant based in Bhalwal in the Sargodha district producing butter, cheese, UHT milk, pasteurised milk, tea whitener, flavoured milk, cream, ghee, honey and jam.