Fauji Cement, KAPCO Sign Agreement to Acquire Majority Stake in Attock Cement

Fauji Cement Company Limited (FCCL) has announced that it has entered into a share purchase agreement to acquire a controlling stake in Attock Cement Pakistan Limited, in partnership with Kot Addu Power Company Limited (KAPCO).

In a filing to the Pakistan Stock Exchange, FCCL said the agreement was signed on January 30, 2026, with Pharaon Investment Group Limited Holding S.A.L, which is divesting its stake in the target company.

Under the transaction, FCCL and KAPCO will jointly acquire 84.06 percent of the issued and paid-up capital and joint control of Attock Cement Pakistan Limited.

However, the acquisition is yet to be completed and remains subject to several conditions precedent.

These include the launch of a public offer by the purchasers under applicable takeover regulations, receipt of all necessary corporate and regulatory approvals, and clearance from the Competition Commission of Pakistan, along with other closing formalities.

The company noted that the deal also builds on its earlier disclosures made in November 2025, when it announced an addendum to the public announcement of intention and an extension in the timeline for the public announcement of the offer.

Once completed, the transaction is expected to reshape the ownership structure of Attock Cement and further consolidate FCCL’s position in Pakistan’s cement sector.