Kohat Cement Company Ltd has informed the Pakistan Stock Exchange (PSX) that it, together with Hub Power Holdings Limited, Lucky Cement Limited, and Metro Ventures (Private) Limited, has formed a consortium to explore the proposed acquisition of a 51 per cent to 100 per cent equity stake in Faisalabad Electric Supply Company Limited (FESCO).
According to the company’s disclosure, the consortium has been pre-qualified by the Privatisation Commission to conduct financial, technical, and legal due diligence on FESCO as part of the government’s privatization process. The equity stake will ultimately be offered through a competitive bidding process.
Kohat Cement clarified that neither the company nor the consortium has entered into any binding commitment for the acquisition. Any decision will depend on the satisfactory completion of due diligence, regulatory approvals, and confirmation of commercial viability.
At this stage, the company stated that the consortium’s focus is on evaluating the viability of the potential acquisition through a comprehensive due diligence exercise.
By Abdul Rab Siddiqi, Pakistan
