Lahore: Fauji Cement Company Limited (FFCL) and Kot Addu Power Company Limited (KAPCO) have initiated the process to acquire a significant 84.06% stake in Attock Cement Pakistan Limited, according to a recent announcement. The transaction, which is poised to shift control of the Target Company, follows a public announcement of intention published earlier this year.
On November 4, 2025, Integrated Equities Limited, acting as the Manager to the Offer, released an Addendum to the Public Announcement of Intention, updating details about the acquisition. This Addendum, expected to be published on November 6, 2025, in leading newspapers "The Nation" and "Nawa-i-Waqt", confirms that Fauji Cement Company Limited will replace Fauji Foundation as one of the acquirers alongside KAPCO. The acquisition is set to proceed under the provisions of the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations 2017.
According to information available from the Pakistan Stock Exchange (PSX), Fauji Cement Company Limited and KAPCO will each seek to acquire 42.03% of the paid-up share capital of Attock Cement Pakistan Limited through a Share Purchase Agreement. The exact number of shares intended for purchase by each company is 57,763,175 for Fauji Cement and 57,763,174 for KAPCO. The public offer component of the acquisition, however, remains to be determined pending further due diligence and agreement finalization.
KAPCO, a public listed company incorporated in Pakistan, is primarily engaged in operating a multi-fuel fired power station with a nameplate capacity of 1,600 MW. The company sells electricity to the Central Power Purchasing Agency Guarantee Limited (CPPA-G) under a Power Purchase Agreement. KAPCO's shareholder base includes major entities such as WAPDA, which holds a 40.25% stake, MCB Bank Limited, and United Bank Limited.
Fauji Cement Company Limited focuses on the manufacturing and sale of cement and related products. The strategic acquisition aligns with Fauji Cement's operational objectives and market expansion strategies.
The Addendum to the Public Announcement highlights the procedural transition in acquirers and affirms the continued interest in securing a majority position in Attock Cement Pakistan Limited. The developments mark a significant move in Pakistan's market sector, promising to reshape the landscape of the cement industry in the region.