Lotte Chemical Pakistan Signs Agreement to Acquire Majority Stake in Engro Polymer & Chemicals
KARACHI, September 1, 2026: Lotte Chemical Pakistan Limited has entered into a Share Purchase Agreement with Engro Corporation Limited to acquire a majority stake in Engro Polymer & Chemicals Limited (EPCL), according to a material information disclosure submitted to the Pakistan Stock Exchange.
Under the agreement dated August 31, 2026, Lotte Chemical Pakistan will acquire 510,733,455 ordinary shares of Engro Polymer & Chemicals. The shares represent approximately 56.19% of EPCL’s issued and paid-up ordinary share capital.
The agreed purchase price is Rs38.60 per ordinary share, making the transaction a significant development for Pakistan’s chemicals sector.
The disclosure was made by Lotte Chemical Pakistan in accordance with Sections 96 and 131 of the Securities Act, 2015, along with the applicable requirements of the Pakistan Stock Exchange Rule Book.
Transaction Still Subject to Approvals
While the share purchase agreement has been signed, completion of the transaction is not yet final. According to the company’s disclosure, the acquisition remains subject to the fulfilment of the agreement’s terms and conditions, receipt of regulatory approvals, and satisfaction of customary conditions.
The company formally notified both the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange about the transaction on September 1, 2026.
The disclosure form attached to the notification confirms that the proposed acquisition involves 510.733 million shares of Engro Polymer & Chemicals at Rs38.60 per share.
A Major Development for the Chemicals Industry
The proposed acquisition would give Lotte Chemical Pakistan a controlling interest in Engro Polymer & Chemicals, subject to completion of the transaction and the required approvals.
For investors, the announcement is notable because the deal could reshape the ownership structure of one of Pakistan’s prominent chemical-sector companies. Further details regarding the completion of the transaction will depend on regulatory clearances and fulfilment of the conditions outlined in the Share Purchase Agreement.
