Pakistan International Container Terminal Limited (PICT) has announced that Sea Link Group Limited, along with its associate Euroasia Terminal (Pvt.) Limited, intends to acquire at least 83.14% of the company’s issued and outstanding shares, paving the way for a potential change in control of one of Pakistan’s key container terminal operators.
According to the public announcement, the proposed acquisition will be carried out through a combination of share purchase agreements and a public offer. Sea Link Group plans to acquire approximately 79.71% of PICT’s shares through agreements with existing shareholders and an additional 8.43% through a public offer to minority shareholders. The transaction remains subject to regulatory approvals, including clearances from the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange (PSX).
The acquisition is being led by Sea Link Group Limited, a Seychelles-incorporated logistics and terminal operations company, together with Karachi-based Euroasia Terminal (Pvt.) Limited. Both entities are controlled by Bilal Shahid and Umer Shahid, who hold equal ownership stakes. The group has extensive interests in logistics, transportation, freight forwarding, container terminal operations, and related supply-chain businesses across Pakistan and abroad.
As part of the transaction, the acquirer aims to secure control of PICT, which currently has 109.15 million ordinary shares outstanding. PICT is a listed company that has been operating since its stock market debut in October 2003 and plays a significant role in Pakistan’s maritime trade infrastructure.
The announcement also disclosed that the acquiring group already owns approximately 3.43% of PICT through Euroasia Terminal, Synergy Limited, and Bilal Shahid Ansari. Following the completion of the proposed acquisition, Sea Link Group is expected to become the controlling shareholder of the terminal operator.
PICT’s major shareholders currently include Innovest Mauritius Limited and Aeolina Investments, which together hold nearly 80% of the company’s shares. The intended acquisition aligns with Sea Link Group’s strategy to expand its footprint in the logistics and port operations sector, strengthening its position in Pakistan’s maritime and supply-chain industry.
The public announcement serves as a formal notice of intention and does not guarantee completion of the transaction. The proposed takeover remains contingent upon obtaining all necessary corporate and regulatory approvals before moving forward.
