Fauji Cement Company Limited (FCCL) has announced that it will jointly acquire an 84.06% stake in Attock Cement Pakistan Limited (ACPL) alongside Kot Addu Power Company Limited (KAPCO), according to a disclosure submitted to the Pakistan Stock Exchange (PSX) on Monday.
The board of Fauji Cement, in its meeting held on November 3, 2025, approved the company’s participation in the transaction following a review of overall business synergies within the group.
“The Board of Directors of Fauji Cement Company Limited in its meeting held on 3 November 2025, after considering the overall business synergies as the Company is the cement vertical of FF, has accorded its approval for the Company to be the entity that jointly acquires with KAPCO, 84.06% of the total issued and paid-up capital, and joint control of, the Target company,” read FCCL’s notice sent to the PSX.
Under the proposed structure, Fauji Cement will acquire 57,763,175 ordinary shares, representing 42.03% of ACPL’s paid-up capital, while KAPCO will purchase an equal 57,763,174 shares, also accounting for 42.03%, taking their combined holding to 115,526,349 shares or 84.06% of ACPL’s total issued capital.
The companies had earlier, on June 3, 2025, made a public announcement of intention through Integrated Equities Limited to jointly acquire control of Attock Cement.
The deal remains subject to the execution of a share purchase agreement, completion of transaction documents, and receipt of necessary regulatory and procedural approvals.
On October 31, Attock Cement Pakistan Limited informed the PSX that it had received a notice from Cherat Cement Company Limited regarding the withdrawal of its Public Announcement of Intention (PAI) to acquire 84.06% of Attock Cement’s paid-up voting shares.
Fauji Cement Company Limited, incorporated in Pakistan on November 23, 1992, as a public limited company under the then Companies Ordinance, 1984 (now the Companies Act, 2017), commenced its commercial operations on May 22, 1993. The company is primarily engaged in the manufacturing and sale of various types of cement.
Kot Addu Power Company Limited was established on April 25, 1996, as a public limited company under the same ordinance (now Companies Act, 2017). Its principal business involves owning, operating, and maintaining a multi-fuel-fired power plant comprising fifteen generating units with a total capacity of 1,600 megawatts in Kot Addu, District Muzaffargarh, Punjab. The company sells electricity generated from the plant exclusively to the WAPDA under a long-term Power Purchase Agreement.
Attock Cement Pakistan Limited was incorporated on October 14, 1981, as a public limited company and is a subsidiary of Pharaon Investment Group Limited Holding S.A.L., Lebanon. Its core business activity is the manufacturing and sale of cement within Pakistan and export markets.
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