Fauji Foundation & KAPCO Submit Binding Offer for Attock Cement Stake

Fauji Foundation and Kot Addu Power Company Limited (KAPCO) have advanced their plans to jointly acquire 84.06% shareholding in Attock Cement Pakistan Limited (ACPL).

According to a notice issued to the Pakistan Stock Exchange (PSX), both acquirers have formally submitted a binding offer to the current shareholder, Pharaon Investment Group Limited S.A.L., for its entire shareholding in ACPL.

The proposed transaction envisages each acquirer—Fauji Foundation and KAPCO—purchasing 42.03% of ACPL’s issued and paid-up capital.

The offer is subject to the seller’s acceptance, signing of the share purchase agreement, and compliance with all required regulatory approvals.

Meanwhile, ACPL in a separate statement confirmed that Pharaon Investment Group is actively pursuing the potential sale process and has received multiple binding offers from different investors.

The Lebanon-based shareholder has engaged Standard Chartered Bank as financial advisor for the divestment.

Earlier reports indicated interest from other major players in the cement and energy sectors, including Cherat Cement, Bestway Group, and Fauji Cement.

ACPL, incorporated in 1981, is one of Pakistan’s leading cement producers and has been a subsidiary of Pharaon Investment Group Limited Holding S.A.L.

This development signals one of the largest potential cement sector transactions in recent years, reflecting the growing consolidation trend within Pakistan’s industrial landscape.