Attock Cement and Abbas Cement sign MoU, Pakistan

Attock Cement and Abbas Cement sign MoU, Pakistan
Published: 31 March 2010

Attock Cement Pakistan Ltd (ACPL) has signed a memorandum of understanding (MoU) with Al Abbas Cement Industries Ltd (AACIL) and its sponsors expressing interest to purchase 74 per cent shares of AACIL. The deal is subject to completion of legal, financial and technical due diligence.

According to information given to the Karachi Stock Exchange, the final decision and other formalities, terms and conditions will be finalised subject to satisfactory completion of due diligence and the approval of the board of directors.