Karachi February 13 2025: Asia Pak Investments and Montage Oil DMCC showed its intention to acquire majority stake in Lotte Chemical Pakistan according to the filing made to Pakistan Stock Exchange.
“The Acquirer intends to acquire approximately 75.01% shareholding and control in the Target Company. Public Offer shall be made for at least fifty (50) percent of the remaining voting shares in accordance with Regulation 14 of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017 (“Regulations”), which, if applicable, shall be pursuant to a competitive bid under Regulation 17 of the Regulations if, at the time, there is an earlier public announcement of offer by another interested acquirer” states the notice.
AsiaPak Investments Limited is an investment holding company. Through its various subsidiaries it owns, through acquisitions, controlling shareholding in Daewoo Pakistan Express Bus Service Limited and Liberty Power Limited. The acquirer was also the original developer and remains a minority shareholder in the Thar Coal Block 1 coal mine which is a CPEC “early harvest” project
Montage Oil DMCC, is a UAE based company which manages complex supply chains for both petrochemical manufacturers and consumers by simplifying market access to a variety of products and services. It combines a global network with outstanding local execution. They operate liquid storage facilities in Sharjah, Karachi, Lahore, Ho Chi Minh City, and Qingdao. They also operate 2 dry bulk storages in Vietnam and UAE.
