ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the proposed acquisition of the Attock Cement Pakistan Ltd (ACPL) by Fauji Cement Company Ltd (FCCL) and Kot Addu Power Company Ltd (Kapco), following a Phase-I competition assessment conducted under the Competition Act 2010.
FCCL and Kapco filed a pre-merger application for the acquisition of controlling interest in Attock Cement from Pharaon Investment Group Ltd. The proposed acquisition is pursuant to Scheme of Compromises, Arrangement, and Reconstruction Agreement dated Jan 30, 2026.
Upon completion of the transaction, Fauji Cement and Kapco will acquire control of ACPL. FCCL, a subsidiary of Fauji Foundation, is a publicly listed company engaged in the manufacture and sale of cement and related products.
Kapco is a publicly listed energy company engaged in power generation and the APCL is a publicly listed cement manufacturer. The seller, Pharaon Investment Group Ltd, is an international investment holding company based in Lebanon.
CCP’s analysis noted that while there is a horizontal overlap between Fauji Cement and Attock Cement, the post-transaction market share would remain below the statutory dominance threshold, and the cement sector in Pakistan continues to have multiple established competitors.
CCP concluded that the proposed transaction is neither likely to create or strengthen a dominant position nor to substantially lessen competition or adversely affect the competitive structure of the market.
Published in Dawn, February 27th, 2026
