CMC-Kamal Textile Mills Limited (DSE:CMCKAMAL) agreed to acquire Alif Unitex Ltd. for BDT 1.2 billion in stock on September 14, 2015. As reported, CMC-Kamal will issue 76.05 million shares to the shareholders of Alif Unitex Ltd. at an exchange ratio of 8.45 shares of CMC-Kamal for 1 share of Alif Unitex, subject to sanction by BSEC. Alif Unitex will be amalgamated into CMC-Kamal Textile Mills Limited.

The transaction is subject to approval of shareholders, and subsequent sanction of the High Court. The Board of Directors of CMC-Kamal and Alif Unitex approved the transaction. The meeting of the shareholders of CMC-Kamal Textile Mills Limited will be held on December 7, 2015.

As on December 7, 2015 the shareholders of CMC - Kamal Textile Mills approved the transaction. As of March 16, 2016, the transaction was approved by the High Court.