KAPCO, Fauji Cement to jointly acquire 84% stake in Attock Cement

Attock Cement Pakistan Limited (ACPL) is set for a major ownership change as Kot Addu Power Company Limited (KAPCO) and Fauji Cement Company Limited move to jointly acquire an 84% stake.

KAPCO disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.

“We wish to inform you that a sale and purchase agreement (SPA) has been entered into on January 30, 2026, between KAPCO and Fauji Cement Company Limited (purchasers), and Pharaon Investment Group Limited Holding S.A.L (seller) with respect to the sale of 84.06% of the total issued and paid-up capital, and joint control of Attock Cement Pakistan Limited.

“Completion of the transaction will be subject to the issuance of a public offer by the Purchasers pursuant to the Securities Act, 2015 and Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017, receipt of requisite corporate and regulatory approvals including approval of shareholders of the company and clearance from the Competition Commission of Pakistan, and the satisfaction of other closing formalities,” the notice shared.

Last year, Fauji Cement Company Limited (FCCL) announced that its Board of Directors approved a plan to jointly acquire a controlling stake in Attock Cement Pakistan Limited alongside KAPCO.

Under the arrangement, Fauji Cement will acquire 57.76 million ordinary shares, equivalent to 42.03% of ACPL’s paid-up share capital, while KAPCO will purchase an equal number of shares, representing another 42.03%.