LOTCHEM issues offer to acquire 56% stake in Engro Polymer

MG News | March 10, 2026 at 09:07 AM GMT+05:00

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March 10, 2026 (MLN): Lotte Chemical Pakistan Limited's (PSX:LOTCHEM) Board of Directors has approved and issued a non-binding offer to Engro Corporation Limited for the acquisition of approximately 56.19% of the issued and paid-up share capital of Engro Polymer & Chemicals Limited.

The board has also authorized the company to commence due diligence and approved the issuance of a public announcement of intention pursuant to the Securities Act, 2015 and Listed Companies (Substantial Acquisition of Voting Shares and Takeover) Regulations, 2017.

The potential transaction remains subject to the completion of due diligence, execution of definitive agreements, and satisfaction of customary conditions, the company's filing on PSX revealed today.

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