FCCL, KAPCO seek 90-day extension for Attock Cement takeover offer

November 25, 2025 (MLN): Fauji Cement Company Limited (FCCL) and Kot Addu Power Company Limited (KAPCO), the prospective acquirers of Attock Cement Pakistan Limited (ACPL), have sought a 90-day extension in the deadline for making the Public Announcement of Offer (PAO).

According to an intimation submitted to the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange (PSX), the acquirers have requested additional time to finalize the process.

The extension request follows the Public Announcement of Intention (PAI) published on June 4, 2025, in which the acquirers expressed their intention to purchase a majority stake from Pharaon Investment Group Limited Holding S.A.L., the existing shareholder of ACPL.

The planned transaction also includes the acquisition of joint control of Attock Cement Pakistan Limited.

FCCL replaced Fauji Foundation as the joint acquirer through an addendum published on November 6, 2025.

According to the notification, the acquirers are still engaged in discussions and negotiations with the seller to finalize definitive agreements.

As these negotiations are ongoing, the parties noted that the Public Announcement of Offer cannot be made within the original 180-day deadline from the PAI date.

Citing Regulation 7(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017, the acquirers have extended the PAO timeline by 90 days now setting the revised deadline as March 1, 2026.

The notification has been formally communicated to both SECP and PSX on behalf of the acquirers.

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