The journey from
Mian Textiles to Cordoba Logistics What is the former textile mills company doing in the business of logistics and other ventures? By Taimoor Hassan
M
uch has been going on at Mian Textile Industries. In March 2020, the fledgling publicly listed textile company was being courted by Ali Arif from Next Capital before the bid fell apart because of the coronavirus pandemic. Then, in October last year, Mian Textile suddenly had another suitor. Danish Elahi, CEO of the Elahi Group of Companies, announced his intentions to buy Mian Textile Mills.
LOGISTICS
This time, there was no hindrance in the deal and Danish Elahi acquired the textile producer. In April 2021, the deal was finalised and Danish Elahi acquired a comfortable majority of 70.23% of the company. However, the change in ownership was not the only transformation that Mian Textiles was undergoing. Since Elahi took over, the company has made a hard pivot towards what would seem like an unrelated field - logistics and other ventures. This is where the Elahi Group of Companies has their expertise. The final change has been a change in
name. No longer related to textiles, Mian Textile Industries within a year has gotten a complete makeover and is now Cordoba Logistics and Ventures and for the financial year 2021 remained in the acquisition mode, seeking regulatory approvals. Now, after the acquisition is complete, the company has resumed operations in a new vertical that it claims to have expertise in by virtue of the new shareholder’s decades long association with logistics through Elahi Group of Companies. The question now is whether the pivot and new lease on life will work, or whether Cordoba will fall?
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