Lucky Cement Limited (PSX: LUCK) has announced that it is part of a consortium that has expressed interest in acquiring a majority stake in Pakistan International Airlines Corporation Limited (PIACL), currently being offered for privatization by the Government of Pakistan.
The consortium includes Hub Power Holdings Limited, Kohat Cement Company Limited, and Metro Ventures (Private) Limited.
It has submitted an Expression of Interest and Statement of Qualification for acquiring between 51-100 percent equity in PIACL, along with management control
According to Lucky Cement’s filing with the Pakistan Stock Exchange on Tuesday, the Privatisation Commission has pre-qualified and shortlisted the consortium and other interested parties to conduct financial, technical, and legal due diligence on PIACL. The sale will eventually proceed through a competitive bidding process under relevant privatization laws.
Lucky Cement clarified that neither the company nor the consortium has made any binding commitment and that a final decision will only be made after due diligence, regulatory approvals, and assessment of commercial viability.
