CCP Clears Fauji Cement, Attock Cement Acquisition

ISLAMABAD: (Web Desk) – The Competition Commission of Pakistan (CCP) has approved the acquisition of Attock Cement Pakistan Limited by Fauji Cement Company Limited and Kot Addu Power Company Limited, following a Phase-I review under the Competition Act 2010.

The approval comes after Fauji Cement and Kot Addu Power submitted a pre-merger application on February 3 2026 seeking to acquire a controlling stake in Attock Cement from Pharaon Investment Group Limited. The transaction is being carried out under a Scheme of Compromises Arrangement and Reconstruction Agreement dated January 30 2026.

Fauji Cement operates as a subsidiary of Fauji Foundation and is listed on the Pakistan Stock Exchange. Kot Addu Power is also a listed entity primarily engaged in electricity generation while Attock Cement is an established player in Pakistan’s cement manufacturing sector. The seller Pharaon Investment Group is an international investment firm headquartered in Lebanon.

In its assessment the CCP identified a horizontal overlap between Fauji Cement and Attock Cement but determined that the combined post-transaction market share would remain below the legal dominance threshold. The Commission further noted that Pakistan’s cement industry continues to feature several strong competitors ensuring healthy market competition.

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Based on its findings the CCP concluded that the acquisition would neither create nor strengthen a dominant market position nor result in any substantial reduction in competition. The transaction has therefore been authorized under Section 11 of the Competition Act 2010.

The Commission clarified that the approval applies solely to competition review and does not impact any pending investigations proceedings or matters before the CCP the Competition Appellate Tribunal or any other competent authority.

The approval highlights continued investment momentum in Pakistan’s cement sector which plays a crucial role in infrastructure development and economic growth. The CCP reaffirmed its commitment to promoting investment while safeguarding competitive market structures.