Fauji Cement, KAPCO Complete Attock Cement Acquisition

Fauji Cement Company Limited and Kot Addu Power Company Limited have formally notified the Pakistan Stock Exchange regarding the successful completion of their acquisition of Attock Cement Pakistan Limited on April 24, 2026. Post-transaction, the acquiring entities collectively hold approximately 92.03% of the issued and paid-up share capital of the target company.

The acquisition was executed pursuant to a Share Sale and Purchase Agreement dated January 30, 2026, entered into with Pharaon Investment Group Limited Holding S.A.L., covering an initial 84.06% equity stake along with joint control rights in the target entity.

As disclosed, the transaction was consummated following satisfaction of all contractual obligations and regulatory prerequisites, including compliance with Sections 96 and 131 of the Securities Act, 2015, as well as the Listed Companies (Substantial Acquisitions of Voting Shares and Takeovers) Regulations, 2017.

Subsequent to the primary acquisition, the purchasers further enhanced their shareholding by acquiring an additional 7.97% stake through a mandatory public tender offer conducted in accordance with applicable takeover regulations. The offer process was managed by Integrated Equities Limited and concluded on April 16, 2026, with requisite disclosures submitted to the Pakistan Stock Exchange, the Securities and Exchange Commission of Pakistan, and the target company.

Following completion of both the negotiated acquisition and the mandatory tender offer, the purchasers have secured controlling interest in Attock Cement, significantly exceeding the originally disclosed equity threshold.

From a corporate profile perspective, Fauji Cement Company Limited, incorporated in November 1992, operates in the cement manufacturing sector and commenced commercial production in May 1993. Kot Addu Power Company Limited, incorporated in April 1996, operates a multi-fuel power generation facility in Kot Addu with an installed capacity of 1,600 MW, supplying electricity to the Water and Power Development Authority under a long-term power purchase agreement.

Attock Cement Pakistan Limited, incorporated in October 1981, is engaged in cement production and was previously a subsidiary of Pharaon Investment Group Limited Holding S.A.L., a Lebanon-based investment entity.