Fauji Cement, KAPCO in pact to buy Attock Cement

January 30, 2026 (MLN): Fauji Cement Company Limited (PSX: FCCL) and Kot Addu Power Company Limited (PSX: KAPKO) have entered into a share purchase agreement to jointly acquire a controlling stake in Attock Cement Pakistan Limited, according to disclosures filed with the Pakistan Stock Exchange on Friday.

Under the agreement signed on January 30, the two companies will acquire 84.06% of Attock Cement’s issued and paid-up share capital from Pharaon Investment Group Limited Holding S.A.L., resulting in joint control of the cement producer.

The transaction remains subject to regulatory approvals, including clearance from the Competition Commission of Pakistan, and the issuance of a mandatory public offer in accordance with the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

Completion will also depend on the fulfillment of customary closing conditions.

The acquisition follows earlier disclosures made in November 2025 regarding the public announcement of intention and subsequent extensions in the offer timeline, with Integrated Equities Limited acting as manager to the offer.

Both Fauji Cement and KAPCO said they have submitted the required disclosure forms to the exchange and that the proposed transaction will proceed in line with applicable takeover regulations.

Attock Cement Pakistan Limited is one of the established players in Pakistan’s cement sector.

The deal marked a significant consolidation move within the industry as companies seek scale and operational synergies amid a challenging demand environment.

Copyright Mettis Link News