LOTCHEM moves closer to acquire Engro’s 56% stake in EPCL

March 13, 2026 (MLN): Engro Holdings Limited (PSX: ENGROH)'s subsidiary, Engro Corporation Limited, has received a non-binding offer from Lotte Chemical Pakistan Limited for the acquisition of approximately 56.19% of the paid-up share capital of Engro Polymer & Chemicals Limited (EPCL).

The proposed transaction follows a Public Announcement of Intention issued on March 10, 2026, indicating Lotte Chemical Pakistan’s interest in acquiring the stake held by Engro Corp, which represents its entire shareholding in EPCL.

According to a notice submitted to the Pakistan Stock Exchange (PSX) on Friday, the Board of Directors of Engro Corp, in a meeting held on March 12, 2026, reviewed the offer and authorized management to negotiate and finalize the terms and conditions of the potential transaction.

The management has also been permitted to prepare the relevant transaction documentation, which will subsequently be presented to the board for final approval once negotiations are concluded.

The company noted that the offer remains non-binding at this stage, and further updates will be shared with shareholders as developments occur.

If completed, the deal could mark a significant ownership shift in EPCL, one of Pakistan’s leading producers of polyvinyl chloride (PVC) and related chemical products, while potentially expanding Lotte Chemical Pakistan’s footprint in the country’s petrochemical sector.

Engro Holdings stated that it will continue to keep shareholders informed through subsequent disclosures as the process progresses.