Karachi: Kot Addu Power Company Limited (KAPCO) and Fauji Cement Company Limited (FCCL) have submitted an addendum to their earlier public announcement of intention to acquire a majority stake and joint control of Attock Cement Pakistan Limited, according to a statement issued on November 4, 2025. This development follows a decision to replace Fauji Foundation with Fauji Cement Company Limited as one of the acquirers.
The acquisition aims to secure up to 84.06% of the shares in Attock Cement Pakistan Limited. Fauji Cement Company Limited and Kot Addu Power Company Limited intend to equally split this shareholding, with each acquiring 42.03% of the paid-up capital of the target company. According to information available from the Pakistan Stock Exchange (PSX), this move is part of a strategic expansion plan under the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
Integrated Equities Limited, acting as the Manager to the Offer, stated that the addendum will be published in both English and Urdu newspapers within two working days, ensuring compliance with the regulations. The public announcement of intention, initially issued on June 4, 2025, was amended to reflect the change in the acquirer, requiring the publication of the addendum in "The Nation" (English) and "Nawa-i-Waqt" (Urdu).
The acquisition process remains subject to regulatory approvals, with the possibility of withdrawal if such approvals are not obtained. Fauji Cement Company Limited, listed on the Pakistan Stock Exchange, is predominantly controlled by the Fauji Foundation, which holds 61.65% of its shares. The Fauji Foundation, established in 1954, serves as the ultimate controlling shareholder, underscoring the strategic interests of the entities involved.
The acquisition highlights a significant move within the designated market category of cement and power, further consolidating the position of the acquirers in their respective industries. The completion of the acquisition will depend on finalizing due diligence, agreement execution, and securing necessary regulatory and corporate approvals.