KARACHI: Engro Corporation Limited, a wholly owned subsidiary of Engro Holdings Limited, has entered into a share purchase agreement with Lotte Chemical Pakistan Limited for the sale of its entire shareholding in Engro Polymer & Chemicals Limited (EPCL).
The stake, representing approximately 56.19 per cent of EPCL’s issued and paid-up ordinary share capital, is being sold for a consideration of approximately Rs19.7 billion, subject to regulatory approvals and other customary conditions.
EPCL has been part of Engro Corporation’s portfolio since 1997, having grown into Pakistan’s only integrated chlor-vinyl complex and a key supplier of PVC resin, caustic soda and hydrogen peroxide to downstream industries. The transaction follows Engro Group’s 2025 restructuring, which created Engro Holdings as the conglomerate’s investment arm, and comes after the USD562 million Deodar transaction, one of Pakistan’s largest private-sector deals in over a decade.
Abdul Samad Dawood, CEO Engro Holdings, said the proposed transaction would allow the company to realise the value created through nearly three decades of building EPCL while unlocking synergies for the company within a larger petrochemicals platform, adding that it would strengthen Engro’s ability to pursue new investment opportunities.
Adnan Afridi, CEO Lotte Chemical Pakistan, said the combination will create a stronger platform for sustainable growth, operational excellence and innovation, and will enhance competitiveness while enabling greater value for customers and stakeholders.Completion of the transaction remains subject to regulatory approvals and required conditions, with further updates to be shared in accordance with applicable regulatory requirements.
