Kot Addu Power Company Limited (KAPCO) has announced the successful completion of a transaction through which the purchasers have acquired a controlling stake in Attock Cement Pakistan Limited.
According to the disclosure submitted to the Pakistan Stock Exchange, the transaction was executed on April 24, 2026, following the completion of all contractual conditions and applicable corporate and regulatory requirements.
The transaction relates to a sale and purchase agreement (SPA) entered into on January 30, 2026, between Fauji Cement Company Limited and the purchasers, and Pharaon Investment Group Holding S.A.L., the seller. 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 target company.
As part of the transaction, the purchasers also acquired an additional 7.97% shareholding in Attock Cement under the terms applicable to the mandatory tender offer. The tender offer was concluded on April 16, 2026, with Integrated Equities Limited acting as Manager to the Offer.
Following completion of the transaction and the additional share acquisition, the purchasers now hold approximately 92.03% of Attock Cement’s issued ordinary share capital, giving them a substantial majority ownership position in the cement manufacturer.
The disclosure noted that the transaction was completed after compliance with applicable corporate and regulatory requirements, including the mandatory tender offer provisions under the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
Attock Cement Pakistan Limited is engaged in the manufacturing and sale of cement, making the acquisition a significant development for the purchasers as they expand their position in the country’s cement sector.
The completion of the deal marks the finalization of the acquisition process that began with the signing of the SPA in January 2026 and brings approximately 92% of Attock Cement’s ordinary share capital under the ownership of the purchasers.
