ISLAMABAD: Kot Addu Power Company Limited (KAPCO) and Fauji Cement Company Limited (FCCL) have signed a Sale and Purchase Agreement (SPA) to jointly acquire an 84% stake in Attock Cement Pakistan Limited (ACPL), signaling a major change in the company’s ownership structure.
KAPCO disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Friday, stating that the SPA was executed on January 30, 2026, with Pharaon Investment Group Limited Holding S.A.L as the seller. Under the agreement, Fauji Cement and KAPCO will each acquire 42.03% of ACPL’s paid-up share capital, totaling 84.06% combined, giving them joint control of the company.
The completion of the transaction will require a public offer under the Securities Act, 2015, approvals from shareholders, relevant corporate and regulatory bodies, including the Competition Commission of Pakistan, and other customary closing formalities.
Last year, FCCL had already announced its board-approved plan to acquire a controlling stake in ACPL alongside KAPCO, paving the way for this strategic partnership.
