The Competition Commission of Pakistan (CCP) has approved the proposed acquisition of Attock Cement Pakistan Limited by Fauji Cement Company Limited and Kot Addu Power Company Limited, following a Phase-I competition assessment conducted under the Competition Act, 2010, read a statement on Thursday.
On February 3, 2026, Fauji Cement Company Limited and Kot Addu Power Company Limited filed a pre-merger application for the acquisition of a controlling interest in Attock Cement Pakistan Limited from Pharaon Investment Group Limited.
The proposed acquisition is pursuant to the Scheme of Compromises, Arrangement, and Reconstruction Agreement dated January 30, 2026. Upon completion of the transaction, Fauji Cement Company Limited and Kot Addu Power Company Limited will acquire control of Attock Cement Pakistan Limited.
Fauji Cement Company Limited, a subsidiary of Fauji Foundation, is a publicly listed company engaged in the manufacture and sale of cement and related products.
Kot Addu Power Company Limited is a publicly listed energy company engaged in power generation.
Fauji Cement, KAPCO move to take 92% stake in Attock Cement
Attock Cement Pakistan Limited is a publicly listed cement manufacturer. The seller, Pharaon Investment Group Limited, is an international investment holding company based in Lebanon.
CCP’s analysis noted that while there is a horizontal overlap between Fauji Cement Company Limited and Attock Cement Pakistan Limited, the post-transaction market share would remain below the statutory dominance threshold, and the cement sector in Pakistan continues to have multiple established competitors.
CCP concluded that the proposed transaction is neither likely to create nor strengthen a dominant position nor to substantially lessen competition or adversely affect the competitive structure of the market. Accordingly, the transaction has been authorised in accordance with the provisions of the Competition Act, 2010.
The authorisation is limited to CCP’s assessment of the transaction under Section 11 of the Competition Act, 2010 and does not affect any ongoing enquiries, proceedings, or matters pending before the Commission, the Competition Appellate Tribunal, or any other competent forum.
CCP was of the view that this transaction reflects ongoing investment activity in Pakistan’s cement sector.
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