EFU Life Assurance Limited has decided not to proceed with its proposed acquisition of Waada Digital (Private) Limited, according to a material information disclosure submitted to the Pakistan Stock Exchange (PSX).
The decision was disclosed by EFU General Insurance Limited in a notice dated October 13, 2026, following a public announcement by its subsidiary, EFU Life Assurance Limited, on October 12, 2026.
EFU Life Decides Against Waada Digital Acquisition
In its disclosure, EFU Life Assurance Limited confirmed that its Board of Directors had mutually agreed with the other party not to proceed with the proposed acquisition of 100% of the issued share capital of Waada Digital (Private) Limited.
The proposed transaction would have given EFU Life full ownership of Waada Digital. However, the company has now formally decided to discontinue the acquisition plan.
The disclosure did not provide specific reasons for the decision or further details about the discussions between the two parties.
Disclosure to the Pakistan Stock Exchange
EFU General Insurance Limited submitted the information to the Pakistan Stock Exchange in accordance with Section 96 and Section 131 of the Securities Act, 2015, and Regulation 5.6.1(a) of the PSX Rule Book.
The announcement was made to inform the exchange and its certificate holders about the development concerning the proposed transaction.
The notice was signed by Amin Punjani, Company Secretary of EFU General Insurance Limited, while EFU Life Assurance Limited’s disclosure was signed by Company Secretary Hasan Jivani.
What the Decision Means
The cancellation means that the proposed transfer of full ownership of Waada Digital to EFU Life Assurance Limited will not proceed under the announced transaction.
However, the disclosure does not indicate whether the companies may consider alternative arrangements or pursue any future business collaboration. It also does not specify any financial implications arising from the decision.
Investors and market participants may continue to monitor official company announcements and Pakistan Stock Exchange disclosures for further information.
Conclusion
EFU Life Assurance Limited’s decision to withdraw from the proposed acquisition of Waada Digital marks a change in its previously announced transaction plans. The company has formally communicated the decision through the required stock exchange disclosure process.
As no additional reasons or financial details were provided, the potential implications for the companies remain unclear based on the announcement alone.
