KAPCO, Fauji Cement acquire 92.03% controlling stake in Attock Cement

Kot Addu Power Company Limited (KAPCO) said on Monday that it and Fauji Cement Company Limited have completed the takeover of a 92.03% controlling interest in Attock Cement Pakistan Limited. According to a notice filed with the Pakistan Stock Exchange, the deal was executed on April 24, 2026, once all contractual terms were fulfilled and regulatory steps were met. Business Recorder reported that these steps included a mandatory tender offer required under the Securities Act, 2015 and the takeover regulations of 2017.

The controlling block was bought from Pharaon Investment Group Limited, while a separate tender offer allowed the buyers to pick up a further 7.97% shareholding. Integrated Equities Limited, which managed the offer, concluded the tender process on April 16, 2026. KAPCO noted that the purchasers now hold roughly 92.03% of Attock's issued ordinary share capital.

The Competition Commission of Pakistan approved the proposed acquisition on February 26 after a Phase-I competition assessment under the Competition Act, 2010. The pre-merger application had been filed on February 3, 2026. Fauji Cement, a subsidiary of Fauji Foundation, manufactures and sells cement, while KAPCO is a listed power generator.