A consortium of foreign investors, represented by Dubai-based Adsum Capital Management, has expressed interest in acquiring four profitable companies from the Beximco Group, including Beximco Pharmaceuticals, Teesta Solar, Beximco Communications, and Beximco Ltd. Adsum sent a proposal to Finance Adviser Salehuddin Ahmed, who forwarded it to the commerce secretary for review.
The proposal outlines the consortium’s intent to acquire shares in these companies, which are highly profitable. Beximco Pharmaceuticals is listed on both the Dhaka and London Stock Exchanges, while Beximco Ltd is listed on the Dhaka Stock Exchange. However, Beximco representatives, including Ahmed Shayan Fazlur Rahman, stated that they have not received any formal proposal. The proposal comes at a time when Beximco is under financial scrutiny, with the High Court ordering the attachment of Beximco Group’s properties and the appointment of a receiver.
Adsum’s proposal is non-binding and subject to due diligence, emphasizing that the acquisition must involve companies operating as going concerns, not under receivership. The financial company has expressed readiness to begin negotiations with the government and continue the due diligence process. The government has yet to respond publicly to the proposal, and any decision will likely involve political consideration and further inquiry into Adsum through diplomatic channels.
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