MJL Bangladesh PLC and EC Holdings Limited have announced a joint investment of Tk 214.2 crore in a commercial property located on Gulshan Avenue, as per a disclosure filed on the Dhaka Stock Exchange on Sunday.
The investment was approved during MJL Bangladesh’s board meeting on September 30, with both companies agreeing to equally share the cost of acquiring the property. The move is part of MJL Bangladesh’s broader strategy to expand its business and strengthen its asset portfolio, ensuring sustained growth in the long term.
In another significant development, MJL Bangladesh revealed that its subsidiary, Omera Petroleum Limited, has finalized an agreement to acquire 99.995% of Premier LP Gas Limited, which operates under the brand “Totalgaz Bangladesh.” The deal, valued at Tk 227 crore, is still subject to regulatory approvals.
MJL Bangladesh is a joint venture between EC Securities Limited, a subsidiary of East Coast Group, and Jamuna Oil Company, a state-owned enterprise.
