Cherat Cement agrees to acquire majority stake in Nimir Industrial Chemicals for Rs24 billion
- Completion of the transaction remains subject to necessary regulatory and other approvals
Cherat Cement is acquiring a 64.07% majority stake in Nimir Industrial Chemicals for over Rs24 billion, diversifying its business into chemical manufacturing, subject to approvals.
- The Rs24 billion acquisition of Nimir Industrial Chemicals.
- The 64.07% majority stake Cherat Cement is purchasing.
- The regulatory approvals required for the transaction.
Cherat Cement has signed agreements to acquire a majority stake in Nimir Industrial Chemicals Limited (NICL) for over Rs24 billion, i.e. approx. $86.6 million.
The company disclosed the development in a filing submitted to the Pakistan Stock Exchange (PSX) on Monday.
The company entered into two share purchase agreements on October 30, 2026, with NICL shareholders to acquire a total of 70.86 million ordinary shares.
Under the first agreement, the company will acquire 56.40 million shares, representing a 51% stake, from NICL’s majority shareholders. A second agreement covers the purchase of 14.46 million shares, equivalent to a 13.07% stake, from certain non-controlling shareholders.
Cherat Cement seeks to acquire 30% stake in NICL
The aggregate transaction involves 64.07% of NICL’s issued share capital at an agreed price of Rs340 per share.
“Completion of the transaction remains subject to necessary regulatory and other approvals, as well as the satisfaction of conditions precedent set out in the respective SPAs,” read the notice.
Cherat Cement, a listed company engaged in the manufacturing, marketing and sale of cement, has an installed production capacity of around 4.5 million tons per annum and primarily serves markets in northern Pakistan.
The company also exports cement to Afghanistan, contributing to Pakistan’s regional trade and export earnings.
Nimir Industrial Chemicals is engaged in the manufacturing and marketing of chemicals and is listed on the PSX.
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