Parexel to be Acquired by EQT Private Equity and Goldman Sachs Asset Management

BOSTON and DURHAM, N.C., July 02, 2021 (GLOBE NEWSWIRE) — Parexel, a leading global clinical research organization (CRO) focused on development and delivery of innovative new therapies to advance patient health, today announced the execution of a definitive merger agreement under which it will be acquired by EQT IX fund (“EQT Private Equity”) and the Private Equity business within Goldman Sachs Asset Management (“Goldman Sachs”) from Pamplona Capital Management LP for $8.5 billion.

“Over the past 18 months Parexel has continued its strong growth trajectory delivering on its patients-first focus and accelerating new therapies to patients in need around the world,” said Parexel CEO Jamie Macdonald. “With the market for outsourced clinical research services anticipated to grow at a conservative CAGR of 8 to 9 percent, our focus remains on advancing and innovating Parexel to meet our customers’ needs across the evolving clinical development landscape. EQT and Goldman Sachs support this vision and are committed to investing in Parexel and our people to capitalize on this exciting market opportunity and make a difference for patients.”

Eric Liu, Partner and Global Co-Head of Healthcare at EQT, commented, “We have followed Parexel closely during the past few years and have been impressed by the company’s development and trajectory. Our investment in Parexel reflects EQT’s thematic focus on the life sciences industry, as well as our commitment to partner with businesses that have a positive impact on society. We are excited to partner with Goldman Sachs for the next stage of Parexel’s journey, and to back Jamie, who prior to his role at Parexel had been a long-time senior advisor to EQT, as well as the rest of the Parexel team.”

Jo Natauri, Partner and Global Head of Private Healthcare Investing within Goldman Sachs Asset Management, commented, “We are thrilled to partner with Jamie Macdonald, the entire Parexel management team and EQT to support Parexel, which has a distinguished track record of delivering clinical excellence to their large pharma and biotech customers globally. We believe this investment will accelerate Parexel’s growth as it builds on the company’s global footprint, strong operational capabilities and expansive healthcare network.”

John Halsted, Managing Partner, Pamplona Capital Management, commented, “We’re very proud of Parexel’s progress over the past four years and the important work they do in helping bring exciting new therapies to patients in need. In particular, they successfully adapted the business to work in the midst of a global pandemic, and supported the development of therapies to combat the COVID-19 pandemic itself. We wish them every success in their next phase of growth.”

“We have enjoyed our partnership with Pamplona, and thank them for their leadership and support in helping to transform Parexel under their ownership,” concluded Mr. Macdonald. “Over the past months, our ability to pivot and adapt have fostered new ways of working while developing a strong track record of quality and delivery for customers around the world. As we continue in this new era of clinical development and focus aggressively on meeting our customers’ needs for innovation in such areas as Real World Evidence, Decentralized Clinical Trials, Biostatistics and Data Management — and in key regions such as Asia/Pacific where we’re among the largest and longest-tenured CROs — we’re excited to be partnering with EQT and Goldman Sachs. We look forward to benefitting from their strong industry experience and to further accelerating Parexel as one of the world’s leading and fastest-growing CROs.”

The transaction is subject to customary conditions, including receipt of applicable regulatory approvals. Evercore acted as the financial advisor to Parexel, and Kirkland & Ellis LLP provided legal counsel in connection with the transaction. Goldman Sachs and Jefferies LLC acted as financial advisors to EQT Private Equity and Goldman Sachs Asset Management, and Simpson Thacher & Bartlett LLP provided legal counsel in connection with the transaction.

About Parexel
Parexel supports the development of innovative new medicines to improve the health of patients. We provide services to help life sciences and biopharmaceutical clients everywhere transform scientific discoveries into new treatments. From decentralized clinical trials to regulatory consulting services to leveraging real world insights, our therapeutic, technical, and functional ability is underpinned by a deep conviction in what we do. Parexel was named “Best Contract Research Organization” in December 2020 by an independent panel for Informa Pharma Intelligence. For more information, visit and follow us on LinkedInTwitter, and Instagram.

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. For more information, visit or follow EQT on LinkedInTwitterYouTube and Instagram.

About Goldman Sachs Asset Management Private Equity
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2021. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 1986, the Private Equity business within Goldman Sachs Asset Management has invested over $75 billion since inception. We combine our global network of relationships, our unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across our portfolios. Follow us on LinkedIn.

About Pamplona Capital Management
Pamplona Capital Management is a specialist investment manager established in 2005 that provides an alternative investment platform across private equity and other diversified strategies. With offices in New York, London, Madrid, and Malta, Pamplona manages over $11 billion in assets for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices, and funds of hedge funds. Pamplona invests long-term capital across the capital structure of its portfolio companies in both public and private market situations.


For Parexel:
Lori Dorer
Senior Vice President, Corporate Communications
+1 513 496 8121

Lindsay LeCain
Real Chemistry
+ 1 508 259 9521

For EQT:
Daniel Yunger, Kekst CNC, + 1 917 574 8582
EQT Press Office,, +46 8 506 55 334

For Goldman Sachs:
Leslie Shribman
+1 212 902 5400

For Pamplona Capital Management:
Ed Orlebar, TB Cardew
+44 (0)7738724630

‫”سلک روڈ اِن سمفنی گانسو اِن ہارمنی” سیاحت کے راستوں کے مجموعے کا اعلان

لانزہو ، چین ، 2 جولائی ، 2021 / ژنہوا۔ ایشیاء نیٹ / – گانسو کے صوبائی محکمہ ثقافت و سیاحت کے زیر اہتمام “سلک روڈ اِن سمفنی گانسو اِن ہارمنی” سیاحت کے راستوں کا مجموعہ 3 جولائی سے 31 جولائی 2021 ء تک منعقد ہوگا۔ برائےمہربانی کام کی تفصیل 500 الفاظ   پر مشتمل  ڈیزائن  کے ذریعے  ای میل   پر جمع کروائیں۔

I: مدت

آغاز کی تاریخ: 03 جولائی 2021

آخری تاریخ: 31 جولائی 2021

II:  مطلوبہ تقاضے

  1. خصوصیات: رُوٹ ڈیزائن موجودہ دور کے تقاضوں کو پورا کرتاہو، گانسو کے سیاحتی وسائل کی ثقافتی گہرائی اور مختلف نوعیت کو اجاگر اور گانسو کی انوکھی دلکشی کو ظاہر کرتا ہو۔
  2. تکمیل : رُوٹ ڈیزائن پروپوزل میں داخل ہونے  اور باہر نکلنے کے  طریقے ، گھریلو نقل و حمل اور کلیدی علاقوں کو شامل ہونا چاہئے۔
  3. مشاہدے کا احساس: رُوٹ کے ڈیزائنوں میں غیر ملکی سیاحوں کو گانسو کے لوگوں کے مقامی رسوم و رواج اور طرز زندگی کا مشاہدہ کرنے کے قابل ہونا چاہئے۔
  4. بین الاقوامیت: بین الاقوامی سیاحتی مصنوعات جو عالمی ثقافتی ورثہ ، عالمی تہذیبوں کے سنگم اور سلک روڈ کی سنہری بیلٹ کی خصوصیات کے پیش نظر گانسو کی اپنی خصوصیات اور ثقافت کو اجاگر کرتی ہوں۔
  5. جدت طرازی : عمل کے دائرہ کار کو بڑھانے اور ایونٹ میں شرکت کو بہتر بنانے کے لئے، رُوٹ ڈیزائن پروپوزل کی زبانوں پرکوئی پابندی نہیں ہے۔ مختصر ویڈیوز،  H5 یا رُوٹ پروڈکٹس کو دیگر جدید شکلوں میں پیش کرنے کی ترغیب دی جاتی ہے، تاکہ تشہیر اور فروغ میں آسانی ہو۔

    “سلک روڈ اِن سمفنی گانسو اِن ہارمنی” سیاحت کے راستوں کا مجموعہ

III: شرکت کرنے والوں کے لئے ہدایات 

  1. ہر شرکت کرنے والا کام کے آزادانہ اور مکمل حق اشاعت کے ساتھ اپنے پیش کردہ کام کا مصنف ہونا چاہئے۔ آنے والوں کو یقینی بنانا ہوگا کہ ان کے کام کسی بھی تیسرے فریق کے جائز حقوق، بشمول کاپی رائٹ، تصویری حق، حق ساکھ ، حق  رازداری ، ٹریڈ مارک رائٹ، تجارتی نام کا حق، یا کسی دوسرے قانونی حق اور مفادات کی خلاف ورزی نہ کرتے ہوں۔ ان تقاضوں  کی خلاف ورزی کرنے والے کسی بھی فرد کو نااہل قرار دیا جائے گا اور اسے اس وجہ سے پیش آنے والی ہر قسم کی قانونی ذمہ داری برداشت کرنا ہوگی۔
  2. پیش کردہ کام ایونٹ کے دوران واپس نہیں کیے جائیں گے۔ شرکت کرنے والے رضامند ہوں گے کہ کفیل کو منتخب شدہ کاموں (جن میں البمز کی اشاعت ، ویڈیو کی تیاری ، نمائش ، کتاب کی اشاعت ، آن لائن ڈسپلے ، میڈیا ریلیز، اور اسی طرح دیگر) کے استعمال کا حق ہے، اور کسی اضافی معاوضے کی ادائیگی نہیں کی جائے گی۔ مصنف حق اشاعت اور حق تصنیف محفوظ رکھتا ہے۔ کفیل مصنف کے نام اور دیگر ضروری معلومات کا حوالہ دے سکتا ہے اور جہاں ضروری سمجھے کاموں میں ترمیم اور درستگی کرسکتا ہے۔ حق  تصنیف ، حق اشاعت ، حق تصویر اور جیتنے والے کاموں کے حق ساکھ سے پیدا ہونے والے کسی بھی تنازعے کا سامنا جیتنے والے اپنے طور پر کریں گے۔
  3. تمام شرکت کرنے والے افراد کی جانب سے یہ سمجھا جائے گا کہ انہوں نے رُوٹ ڈیزائن پروپوزل کی تلاش کے اس عمل کے تمام اصول و ضوابط کو تسلیم کیا ہے، اور کفیل اس معاملے کی حتمی تشریح کا حق محفوظ رکھتا ہے۔

IV: قواعد و ضوابط

  1. ہر شریک رُوٹ کے دو(2) ڈیزائن تک پیش کرسکتا ہے۔
  2. رُوٹ ڈیزائن پروپوزل کی زبانوں پر کوئی پابندی نہیں ہے۔ مختصر ویڈیو ، H5 یا دیگر جدید شکلوں میں رُوٹ پراڈکٹس کی پیش کش کی حوصلہ افزائی کی جاتی ہے۔ کاموں کو پی پی ٹی الیکٹرانک دستاویز کی شکل میں پیش کرنا ہوگا، جس میں واضح تصاویر (ایک تصویر جو 1 ملی میٹر سے کم نہ ہو) اور ایک مکمل سرورق ، فہرست اندراج  کا صفحہ اور صفحات نمبر موجود ہوں۔

مطلوبہ ویڈیو فارمیٹ: MP4

ویڈیو تناسب:9:16

ویڈیو کا دورانیہ : 60سیکنڈ سے 120 سیکنڈ

ویڈیو کا سائز:  200 MB سے زیادہ نہیں

تصویری فارمیٹ : 9:16

ایک رُوٹ ڈیزائن کے لئے 30 سے زیادہ تصاویر نہ ہوں
.3 شرکت کرنے والے/افراد   کو اپنے کام ای میل کے ذریعے جمع کروانا  ہوں گے۔ پیش کردہ کاموں کے ساتھ 500 الفاظ سے زیادہ کی ڈیزائن تفصیل ہونا چاہئے، جس میں رُوٹ ، آنے  کا طریقہ ، گھریلو نقل و حمل ، کلیدی علاقوں ، ڈیزائن کا خیال ، اور ڈیزائن کی تشکیل، رابطہ کی شخصیت اور فون نمبر اور دیگر متعلقہ معلومات کی تفصیلی وضاحت شامل ہو۔

.4مصنف کا نام ، قلمی نام ، نام یا لوگو کو پیش کردہ کاموں کے متن اور تصاویر میں قطعاً ظاہر نہیں کیا جانا چاہئے۔ اس میں  واٹرمارکس ، بارڈرز ، منقش  الفاظ ، پوسٹ اسکرپٹ اور اس طرح کی کوئی چیز شامل نہیں ہونی چاہئے۔ جو اندراجات ان تقاضوں کو پورا نہیں کرتے ہوں گے  انہیں نااہل قرار دیا جائے گا۔

,V کام جمع کرنے کا طریقہ 

براہ کرم اپنے کام کو تقریبا 500 الفاظ کی ڈیزائن تفصیل کے ساتھ ای میل کے ذریعے جمع کرائیں۔ ای میل: ۔ اس تقریب کی تازہ ترین پیشرفت سے آگہی کے لئے، اس پروگرام کی آن لائن اشاعت کے پلیٹ فارم پر لاگ آن ہونے پر آپ کو خوش آمدید کہتے ہیں: ۔

VI: اشاعت

گلوبل فیڈریشن آف نیوز ایجنسیز کی جانب سے رُوٹ ڈیزائن پروپوزل  کے لئے درخواست   طلب کرنے کا نوٹس آن لائن شائع کیا گیا ہے۔ اس تقریب کا آن لائن پبلشنگ پلیٹ فارم یہ ہے:

VII: انتخاب اور اعزاز ات

مقرر کردہ  مکمل اسکور 100 پوائنٹس ہوگا، جس میں ماہر جائزے کا حصہ 70 فیصد ہوگا اور آن لائن سلیکشن کا حصہ 30 فیصد ہو گا۔ تمام پیش کردہ کاموں میں سے دس(10) معیاری رُوٹ ڈیزائن منتخب کیے جائیں گے، جن میں ایک اوّل انعام، دو دوم انعامات اور تین سوم انعامات شامل ہوں گے۔  اوّل ، دوم اور سوم  انعام جیتنے والی رُوٹ پروڈکٹس کو سرٹیفکیٹ اور بونس دیئے جائیں گے۔

گانسو چین کے شمال مغرب میں واقع ہے۔ چینی تہذیب کے قدیم مقام کے طور پر ، گانسو کی ثقافت شاہراہ ریشم ، عظیم دیوار اور دریائے زرد کے گرد گھومتی ہے۔ گانسو میں عالمی ثقافتی ورثہ کے سات مقامات ہیں: ڈونہوانگ میں موگائو گروٹو دنیا میں موجود سب سے بڑا بدھا کا خزانہ ہے؛ جیاگوآن مغربی سرے پر مِنگ خاندان  کی عظیم دیوار کا نقطہ آغاز ہے ، جسے جنت کا پہلا اور سب سے بڑا راستہ کہا جاتا ہے؛ تیانشوئی میں واقع ، میجیشان گروٹوز ، جو چین کے چار مشہور ترین گروٹو سائٹس میں سے ایک ہے، اس کا نام گندم کے ڈھیر کی شکل والے پہاڑ سے لیا گیا ہے؛ اور  تانبے کا اڑتا ہوا گھوڑا ، جو چین کا سیاحت کا لوگو ہے ، صوبہ گانسو کے ووئی میں دریافت کیا گیا۔

ذریعہ: گانسو صوبائی محکمہ ثقافت اور سیاحت

منسلک تصویری لنکس: لنک:



“Silk Road in Symphony Gansu in Harmony” Tourism Routes Collection Announcement

LANZHOU, China, July 2, 2021 /Xinhua-AsiaNet/ — “Silk Road in Symphony Gansu in Harmony” Tourism Routes Collection organized by Gansu Provincial Department of Culture and Tourism will be held from July 3 to July 31, 2021. Please submit the work by email with a design description of 500 words to

  1. Period

Starting date: July 3, 2021

Deadline: July 31, 2021

  1. Requirements
  2. Characteristics: The route designs need to meet the demands of the present day, highlight the cultural depth and variety of Gansu’s tourism resources, and showcase the unique charm of Gansu.
  3. Completeness: The route design proposals should include entry and exit methods, domestic transportation and key areas.
  4. Sense of experience: The route designs must enable foreign tourists to experience the local customs and lifestyles of Gansu people.
  5. Internationalization: International tourism products that highlight Gansu’s own characteristics and culture with a view to the features of world cultural heritage, intersection of world civilizations and the golden belt of the Silk Road.
  6. Innovation: To expand the scope of the process and improve participation in the event, there is no restriction on the languages of the route design proposals. Presentation in short videos, H5 or other innovative forms of the route products is encouraged, thereby facilitating publicity and promotion.

III. Notes for Entrants

  1. Each entrant must be the author of the submitted work with independent and complete copyright of the work. Entrants must ensure their works do not infringe upon the legitimate rights and interests of any third party, including copyright, portrait right, reputation right, privacy right, trademark right, trade name right, or any other legal right. Any entrant who violates these requirements shall be disqualified and bear any legal liability caused thereby.
  2. Submitted works will not be returned during the event. Entrants shall agree that the sponsor owns the right to use the selected works (including publishing of albums, video production, exhibition, book publishing, online display, media release, and so on), and no additional remuneration shall be paid. The author reserves the copyright and authorship right. The sponsor may quote the author’s name and other necessary information and modify and edit the works as deemed necessary. Any disputes arising from the authorship right, copyright, portrait right and reputation right of the winning works shall be borne by the winners themselves.
  3. All entrants shall be deemed to have acknowledged all the rules and regulations of this process of seeking route design proposals, and the sponsor reserves the right of final interpretation of this event.
  4. Rules and Regulations
  5. Each entrant may submit up to two route designs.
  6. There is no restriction on the languages of the route design proposals. Presentation of the route products in short videos, H5 or other innovative forms is encouraged. Works shall be submitted in the form of a PPT electronic document, with clear images (single picture not less than 1mb) and a complete cover, table of contents and page numbers.

Video format requirement: MP4

Video proportion: 16:9

Video duration: 60s-120s

Video size: no more than 200MB

Picture format: 16:9

No more than 30 pictures for one route design

  1. Entrants / individuals should submit their works via email. The submitted works shall be accompanied by a design description of no more than 500 words, explaining the theme of the route, entry method, domestic transportation, key areas, design concept, and other relevant information, and indicating the design organization, contact person and phone number.
  2. The name, nickname or logo of the author must not be displayed in the text and pictures of the submitted works. There should be no watermarks, borders, inscriptions, postscripts, and the like. Entries that do not meet these requirements shall be disqualified.
  3. Submission Method

“Silk Road in Symphony Gansu in Harmony” Tourism Routes Collection

Please submit your work by email with a design description of about 500 words. E-mail: You are welcome to log on to the online publishing platform of this event: M to keep abreast of the latest progress of the event.

  1. Publication

The notice calling for route design proposals is published online by the Global Federation of News Agencies. The online publishing platform of the event is:

VII. Selection and Awards

The full score is set to be 100 points, with expert review accounting for 70% and online selection accounting for 30. Ten quality route designs will be selected from all the submitted works, including one first prize, two second prizes and three third prizes. Certificates and bonuses will be awarded to the route products that win the first, second and third prizes.

Gansu locates in the northwest of china. As one of the ancient birthplaces of Chinese civilization, the culture of Gansu revolves around the Silk Road, the Great Wall and the Yellow River. There are seven world cultural heritage sites in Gansu: Mogao Grotto at Dunhuang is the largest extant Buddhist treasure trove in the world; Jiayuguan is the starting point of the Ming Dynasty Great Wall at the western end, known as The First and Greatest Pass under Heaven; located in Tianshui, the Maijishan Grottoes, one of the four most famous grotto sites in China, derived its name from the wheat stack-shaped mountain; and the copper flying horse, the logo of China tourism, was unearthed in Wuwei, Gansu Province.

Source: Gansu Provincial Department of Culture and Tourism

Image Attachments Links: Link:

Nyxoah Announces Pricing of Nasdaq Public Offering

Mont-Saint-Guibert, Belgium – July 2, 2021, 2:40pm CET / 8:40am ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today announced the pricing of its initial public offering in the United States (the “Offering”) of 2,835,000 ordinary shares at a price to the public of US$ 30 per share for total gross proceeds of US$ 85.1 million before deducting underwriting discounts and commissions and estimated offering expenses.

In addition, Nyxoah has granted the underwriters a 30-day option to purchase up to an additional 425,250 ordinary shares at the initial public offering price less underwriting discounts and commissions, to cover over-allotments, if any.

The closing of the Offering is expected to occur on July 7, 2021, subject to the satisfaction of customary closing conditions.

Nyxoah’s ordinary shares are listed on Euronext Brussels under the symbol “NYXH”. The ordinary shares are expected to begin trading on the NASDAQ Global Market on July 2, 2021 under the same symbol.

Piper Sandler, Stifel and Cantor are acting as joint book-running managers for the offering. Degroof Petercam is acting as a co-manager.

A registration statement relating to the ordinary shares was filed with the Securities and Exchange Commission (“SEC”) and declared effective on June 30, 2021. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification or publication of an offering prospectus under the securities laws of any such state or jurisdiction.

The offering of ordinary shares was made only by means of a prospectus. When available, a copy of the final prospectus can be obtained from Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by e-mail at, or by phone at (800) 747-3924; Stifel, Nicolaus & Company, Incorporated at Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720, or by email at; or Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 4th Floor, New York, New York 10022; email:

Forward-Looking Statements
This press release includes certain disclosures that contain “forward-looking statements,” including, without limitation, statements regarding the closing of the offering. Forward-looking statements are based on Nyxoah’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict and could cause actual results to differ. Forward-looking statements contained in this announcement are made as of this date, and Nyxoah undertakes no duty to update such information except as required under applicable law.

No public offering will be made and no one has taken any action that would, or is intended to, permit a public offering in any country or jurisdiction, other than the United States, where any such action is required, including in Belgium. Belgian investors, other than qualified investors within the meaning of the Belgian Act of 11 July 2018 on the public offering of securities and the admission of securities to be traded on a regulated market, will not be eligible to participate in the offering (whether in Belgium or elsewhere). The transaction to which this press release relates will only be available to, and will be engaged in only with, in member states of the European Economic Area, persons falling within the meaning of Article 2(e) of Regulation (EU) 2017/1129 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (the “Prospectus Regulation”), and in the United Kingdom, investment professionals falling within article 19 (5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), persons falling within article 49 (2), (a) to (d) of the Order and other persons to whom it may lawfully be communicated. A listing prospectus will be prepared by Nyxoah in accordance with Article 3 of the Prospectus Regulation for the purpose of having the new ordinary shares, issued pursuant to the Offering or (as the case may be) the exercise by the underwriters of their 30-day option to purchase additional ordinary shares, admitted to trading on Euronext Brussels.

Fabian Suarez, Chief Financial Officer
+32 10 22 24 55

Gilmartin Group
Vivian Cervantes



Pakistan’s Exports to UK Cross $2 Billion Mark For The First Time

Pakistan’s exports to the United Kingdom increased by 33 percent to $2.025 billion during FY2021 as compared to $1.526 billion during FY2020, as announced by the Adviser to the Prime Minister on Commerce, Abdul Razak Dawood, on Friday.

He tweeted that this shows an increase of $499 million, and wrote, “The UK is a very important trading partner & is the first time that our exports have crossed $2 billion mark”.

The adviser added, “I would like to commend our exporters for this remarkable accomplishment. I also commend MOC’s Trade & Investment Officers in the UK & urge them to work harder in finding opportunities for our exporters & provide facilitation to our businessmen”.

Source: Pro Pakistani

TRG International Sells Off Its Subsidiary to US Firm

TRG Pakistan’s associated company TRG International has completed the process of selling off the economic interest of its subsidiary eTeleQuote to a US-based company.

According to the details, TRG International sold off its 80 percent stakes to Primerica. The remaining 20 percent shares will be sold out in the next four years to the financial services providers.

eTeleQuote is a health insurance and marketing firm with an equity value of $600 million. The company has been featured as one of the best performings by Inc. Magazine in its 5,000 rankings.

eTeleQuote Insurance is a digital insurance agency that sells life and health insurance via the internet and fulfillment centers. It provides no-cost consultations for Medicare-eligible individuals.

It has two comparable companies listed on the USA stock exchanges, one is SELECTQUOTE Inc. (SLQT), and the other one is GOHEALTH LLC (GOCO).

TRG Pakistan, with its 45% shares in TRG International, will receive an amount of $142.25 million out of total receivables of $316.125 million.

Source: Pro Pakistani