STO acquisition of Fenaka stopped on Ministry’s orders

1 week ago

The acquisition of Fenaka Corporate by the State Trading Organization (STO) has been halted on the orders of the Ministry of Finance. President Dr. Mohamed Muizzu earlier on August 25th announced making Fenaka Corporation a subsidiary of STO, by having the latter acquire the shares of the former. STO in a statement issued on Wednesday said it has decided to discontinue the