ISLAMABAD: Attock Cement Pakistan Limited is set to undergo a significant ownership transition as Kot Addu Power Company Limited and Fauji Cement Company Limited move to jointly acquire a controlling stake in the company. The development marks a major consolidation move within Pakistan’s cement and energy sectors.
Kot Addu Power Company Limited disclosed the transaction in a formal notice to the Pakistan Stock Exchange on Friday. According to the disclosure, a sale and purchase agreement was signed on January 30, 2026, between KAPCO and Fauji Cement as joint purchasers and Pharaon Investment Group Limited Holding S.A.L as the seller.
Under the agreement, the purchasers will acquire 84.06 percent of the total issued and paid up share capital of Attock Cement Pakistan Limited. The transaction will also result in joint control of the cement manufacturer, subject to the completion of mandatory legal and regulatory requirements.
KAPCO stated that completion of the deal is contingent upon the issuance of a public offer by the purchasers in accordance with the Securities Act 2015 and the Listed Companies Substantial Acquisition of Voting Shares and Takeovers Regulations 2017. The transaction will also require approvals from relevant corporate bodies, including shareholders, and clearance from the Competition Commission of Pakistan.
The notice further clarified that the acquisition remains subject to the fulfilment of other standard closing conditions. These include regulatory consents and completion of procedural formalities required under Pakistan’s capital market and competition laws before the transfer of ownership can be finalised.
The proposed acquisition follows an earlier announcement by Fauji Cement Company Limited, which had informed the market last year that its board of directors had approved a plan to jointly acquire a controlling interest in Attock Cement alongside KAPCO. Analysts view the move as a strategic expansion aimed at strengthening market presence, improving operational synergies and enhancing long term growth prospects in Pakistan’s cement industry.
