Rafique Lakhani

Senior Vice President Mr. Rafique Lakhani has over 19 years of experience in financial management and controllership. Prior to joining Abraaj, from 1995 to 2005, he was Chief Financial Officer of the Cupola Group, a regionally focused operating group based in Dubai with diverse business interests in consumer, retail, information and engineering sectors in the Middle East and South Asia. At Cupola, he was responsible for group financial planning and control, treasury and risk management, tax planning, banking relationships, accounting and financial reporting. He also participated in the due diligence and financing of various acquisition and subsequent divestment transactions. Mr. Lakhani was Financial Controller for the Dewan Group in Karachi, Pakistan. Prior to joining Dewan, he was associated with Al Batha Group, Sharjah, U.A.E. as Finance Manager for their Group Treasury. He is a fellow member of the Institute of Chartered Accountants of Pakistan.

AHSL brokers deal between Dewan, Allied

KARACHI: Dewan Group has taken over Allied Groups’ stake in Allied Motors Ltd, and a deal to this effect between Dewan Mushtaq Group and Allied Group was brokered by Arif Habib Securities Ltd (AHSL), said a press release issued by the AHSL here Thursday. The company used to be called Allied Tractors Ltd and assembled tractors of the Ford brand. During the 1990s, the company had a dispute with Ford and the plant has been closed for the number of years. The equity of Allied Motors Ltd is negative and the book value per share after taking into account revaluation of assets in below Rs 4. Dewan Group bought 4,753,259 shares (53 percent) at a rate of Rs 1 and in addition has agreed to take on the responsibility for the discharge of the liabilities of the company, the release said. “The deal was finalised after talks with a number of parties, as it was felt that the interests of the minority shareholders would best be looked after by Dewan Group,” it added. —Staff Report