Attock Refinery Limited (PSX: ATRL) has received an offer from its Chairman and Director, Shuaib A. Malik, to acquire a 70% shareholding in its wholly owned subsidiary, Attock Hospital (Private) Limited. The company disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday.
The offer will be placed before Attock Refinery’s Board of Directors for consideration and necessary approval, subject to obtaining all required regulatory clearances. The refinery clarified that the potential transaction remains subject to the finalization of terms and conditions, execution of definitive agreements, and receipt of all necessary corporate and regulatory approvals.
| Transaction Detail | Information |
|---|---|
| Seller | Attock Refinery Limited (PSX: ATRL) |
| Buyer | Shuaib A. Malik (Chairman & Director, ATRL) |
| Target | Attock Hospital (Private) Limited (wholly owned subsidiary of ATRL) |
| Proposed Stake | 70% of shareholding |
| Status | Offer received; subject to Board approval and regulatory clearances |
| Financial Details | Not disclosed |
Next Steps
The company stated that the proposed transaction is subject to the finalization of terms and conditions, execution of definitive agreements, and receipt of all necessary corporate and regulatory approvals. Attock Refinery added that it would keep the exchange informed of any further material developments regarding the proposed transaction as and when they arise.
No financial details of the proposed acquisition, including the valuation of the stake or the consideration being offered, were disclosed in the notice.
About Attock Refinery Limited
Attock Refinery Limited (PSX: ATRL) is one of Pakistan’s leading oil refining companies, processing crude oil into petroleum products including high-speed diesel, motor spirit, kerosene, and furnace oil. The company is part of the Attock Group, a diversified business conglomerate with interests in energy, cement, and other sectors.
About Attock Hospital (Private) Limited
Attock Hospital (Private) Limited is a wholly owned subsidiary of Attock Refinery Limited, operating healthcare services in Pakistan.
