PIACL shares along with management control: Eight potential buyers submit EOIs to PC

ISLAMABAD: The Privatisation Commission (PC) has announced receiving Expressions of Interest (EOIs) from eight potential buyers for Pakistan International Airlines Corporation Limited (PIACL) shares alongwith its management control.

The commission had EOIs for divestment of 51 to 100 percent share capital of PIACL together with management control.

On Thursday, 19th June 2025 was the last day for submission of Statement of Qualifications (SOQs) in connection with the 2nd attempt for the Divestment of PIACL.

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The Privatisation Commission received EOIs from the following eight interested parties: (1) Consortium comprising Lucky Cement Limited, Hub Power Holdings Ltd, Kohat Cement Company Ltd and Metro Ventures (Private) Ltd; (2) Consortium comprising Arif Habib Corporation Ltd, Fatima Fertilizer Company Ltd, City Schools (Private) Ltd and Lake City Holdings (Private) Ltd; (3) AKD Group; (4) Air Blue Ltd; (5) Consortium comprising Augment Securities & Investments (Private) Ltd and Serene Air (Private) Ltd (Equitas LLC Capital Group); (6) Habib Rafique Engineering (Pvt) Ltd; (7) Fauji Fertilizer Company Ltd; (8) Sardar Muhammad Ashraf D Baloch (Pvt) Ltd.

Out of the eight interested parties the following five interested parties submitted SOQs by the deadline today: (1) Consortium comprising Lucky Cement Ltd, Hub Power Holdings Limited, Kohat Cement Company Limited and Metro Ventures (Private) Ltd; (2) Consortium comprising of Arif Habib Corporation Ltd, Fatima Fertilizer Company Ltd, City Schools (Private) Ltd and Lake City Holdings (Private) Ltd; (3) Fauji Fertilizer Company Ltd; (4) Air Blue; (5) Consortium comprising Augment Securities & Investments (Private) Ltd and Serene Air (Private) Ltd, Bahria Foundation, Mega C&S Holding, Equitas Capital LLC.

The SOQs submitted by the parties will be evaluated by the Privatisation Commission against the prequalification criteria and the pre-qualified parties will proceed to the next stage where they will be given access to the virtual data room to undertake buy-side due diligence.

Copyright Business Recorder, 2025