KARACHI: Dubai Islamic Bank Pakistan Limited (DIBPL) has announced the successful closure of $76 million financing for the acquisition of an 84.06 per cent majority stake in Attock Cement Pakistan Limited by a consortium comprising Fauji Cement Company Limited and Kot Addu Power Company Limited.
The transaction represents a significant development in Pakistan’s mergers and acquisitions landscape, a statement said on Thursday.DIBPL acted as the largest financier, lead advisor and Shariah advisor, playing a central role in structuring and arranging the financing, as well as delivering a Sharia-compliant solution, with Mohsin Tayebaly & Co serving as transaction legal counsel.
“We are pleased to have supported this strategic acquisition through a comprehensive financing and advisory solution,” said Muhammad Ali Gulfaraz, president of DIBPL. “This transaction reflects our continued focus on enabling complex, high-impact transactions and delivering value to our clients.”
“This milestone underscores the strength of DIB’s global platform, combining financing, advisory and Sharia structuring capabilities,” said Khadija Wajahat, head of investment banking at DIBPL. “We remain committed to supporting strategic transactions that contribute to sustainable economic growth.”
The bank said it is leveraging its capabilities as a leading international Islamic bank in Pakistan to provide tailored solutions for major conglomerates.It also noted its strong partnership with the management teams of the acquirers and their sponsors, which enabled smooth coordination in executing a transaction of this scale and complexity.
The deal marks the transition of a strategic industrial asset from foreign to local ownership, supporting long-term value creation and contributing to the domestic economy.
