In one of the largest corporate acquisitions on the Pakistan Stock Exchange (PSX) this fiscal year, **Cherat Cement Company Limited (CHCC)**, a flagship entity of the Ghulam Faruque Group, has entered into Share Purchase Agreements (SPAs) to acquire a controlling **51% stake** in **Nimir Industrial Chemicals Limited (NICL)** for approximately **Rs. 19.2 billion**.
The transaction, officially notified to the Pakistan Stock Exchange and the Securities and Exchange Commission of Pakistan (SECP), represents a major cross-sector industrial diversification by Cherat Cement into Pakistan's specialty chemical manufacturing landscape.
### Transaction Breakdown & Purchase Valuation
According to the material disclosure filed with the PSX:
- **Target Stake:** 56,400,000 ordinary voting shares, representing exactly 51.00% of the issued share capital of Nimir Industrial Chemicals Limited. - **Agreed Acquisition Price:** Negotiated at **Rs. 340.00 per share**. - **Aggregate Value for Controlling Stake:** Approximately **Rs. 19,176,000,000 (Rs. 19.2 billion)** payable to the sponsors and majority shareholders of NICL. - **Public Tender & Additional Acquisition:** Alongside the primary 51% acquisition, Cherat Cement has also agreed to purchase an additional 13.07% stake (14.47 million shares) from certain other non-controlling shareholders. This brings the aggregate transaction volume to **64.07% (70.87 million shares)** valued at **Rs. 24.09 billion**.
### Strategic Significance for Cherat Cement
Nimir Industrial Chemicals Limited is a premier Pakistani manufacturer of oleochemicals, chlor-alkali products, soap noodles, and personal care specialty chemicals, catering to major multinational brands.
Financial analysts note that by acquiring a dominant holding in NICL, Cherat Cement is diversifying its revenue pipeline away from cyclical domestic construction demand and expanding into resilient, cash-flow-generating consumer-packaged goods (CPG) ingredients. The acquisition is subject to statutory clearance from the Competition Commission of Pakistan (CCP), SECP compliance, and the formal execution of a mandatory Public Offer under the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations.