Fauji Cement Company Limited (PSX: FCCL), together with Kot Addu Power Company Limited (PSX: KAPCO), has successfully completed the acquisition of a controlling 92.03% stake in Attock Cement Pakistan Limited (PSX: ACPL). The transaction, which closed on April 24, 2026, represents one of the largest consolidations in Pakistan’s cement sector in recent years, creating a significantly expanded industrial footprint.
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The landmark acquisition was executed in two phases. First, the joint purchasers acquired an 84.06% equity stake directly from the Pharaon Investment Group Limited Holding S.A.L. through a Sale and Purchase Agreement (SPA) signed on January 30, 2026. Subsequently, a mandatory tender offer for an additional 7.97% shareholding was concluded on April 16, 2026, managed by Integrated Equities Limited. Following the fulfillment of all contractual and regulatory conditions, the combined 92.03% ownership was formally secured.
Transaction Structure and Strategic Rationale
| Transaction Component | Details |
|---|---|
| Direct Acquisition | 84.06% stake from Pharaon Investment Group |
| Mandatory Tender Offer | Additional 7.97% from public shareholders |
| Total Acquired Stake | 92.03% |
| Lead Managers | Fauji Cement Company Limited (FCCL) & Kot Addu Power Company Limited (KAPCO) |
| Offer Manager | Integrated Equities Limited |
The move significantly strengthens Fauji Cement’s market leadership and manufacturing capacity. By integrating Attock Cement’s production facilities, the group enhances its ability to serve domestic construction demand. For KAPCO, the acquisition represents a strategic pivot to diversify its portfolio beyond the energy sector, creating a robust industrial base with long-term revenue stability.
About the Companies
Attock Cement Pakistan Limited (ACPL) is a prominent manufacturer of high-quality cement serving both domestic and export markets. Its integration under the joint ownership of FCCL and KAPCO is expected to yield operational and financial synergies.
Fauji Cement Company Limited (FCCL) is a flagship entity of the Fauji Foundation group and one of the largest cement producers in the country.
Kot Addu Power Company Limited (KAPCO) is one of Pakistan’s most efficient independent power producers (IPPs), now diversifying into industrial manufacturing.
