Fauji Cement Company Limited (FCCL) has completed the acquisition of a controlling stake in Attock Cement Pakistan Limited, marking a significant development in Pakistan’s cement sector.
According to a disclosure submitted to the Pakistan Stock Exchange (PSX), the transaction was completed on April 24, 2026, after all contractual conditions and applicable regulatory and corporate requirements were fulfilled.
The transaction follows a Sale and Purchase Agreement (SPA) signed on January 30, 2026, between Fauji Cement and Kot Addu Power Company Limited, along with Pharoan Investment Group Limited Holding S.A.L. The agreement covered the acquisition of 84.06% of the total issued and paid-up capital of Attock Cement Pakistan Limited, along with joint control of the company.
Following the initial acquisition, the purchasers also acquired an additional 7.97% shareholding through the mandatory tender offer process under applicable takeover regulations. The tender offer was concluded on April 16, 2026, with the relevant information subsequently communicated to the PSX, Attock Cement and the Securities and Exchange Commission of Pakistan.
As a result of the completed transaction, the purchasers now hold approximately 92.03% of Attock Cement’s issued ordinary share capital.
Attock Cement is engaged in the manufacturing and sale of cement, making the transaction strategically important for Fauji Cement as it expands its presence in the domestic cement industry.
The completion of the acquisition comes after the parties met the required contractual conditions and complied with applicable provisions of the Securities Act, 2015, as well as the Listed Companies (Substantial Acquisitions of Voting Shares and Takeovers) Regulations, 2017.
The development gives Fauji Cement and its purchasing partners a substantial ownership position in Attock Cement and represents another notable consolidation move within Pakistan’s cement industry.
