Macter International Limited entered into a scheme of arrangement to acquire remaining 25.17% stake in Associated Services Limited (KASE:ASRL) for PKR 2.2 million in stock on December 18, 2015. Macter International will acquire 0.9 million shares of Associated Services at an exchange ratio of one share of Macter for every 4 share of Associated Services. Macter International will issue 0.22 million shares at an issue price of PKR 10 per share to the shareholders as consideration. The deal is subject to the approval of shareholders and creditors of Associated Services Limited and Macter International, regulatory and statutory approvals, stock exchanges and High Court of Pakistan. The deal has been approved by the shareholders of Associated Services Limited at the meeting held on March 12, 2016. The transaction is approved by the Board of Directors of Associated Services Limited. Deal has been approved by the High Court of Sindh. As of December 13, 2016 shareholders' of Associated Services Limited approved the transaction. KPMG Taseer Hadi & Co acted as valuer for both Associated Services Limited and Macter International and calculated the swap ratio for the deal. Macter International Limited cancelled the acquisition of remaining 25.17% stake in Associated Services Limited (KASE:ASRL) on June 13, 2017.