October 30, 2025 (MLN):  Cherat Cement Company Limited and Shirazi Investments (Private) Limited have formally withdrawn their public announcement of intention (PAI) to acquire a controlling stake in Attock Cement Pakistan Limited.

The withdrawal notice, issued through Topline Securities Limited, was submitted to the Pakistan Stock Exchange (PSX) and the Securities and Exchange Commission of Pakistan (SECP).

The companies had initially stated on June 4, 2025, their intention to acquire up to 84.06% (115,526,349 shares) of Attock Cement’s issued share capital and joint control from Pharaon Investments Group Limited (Holding) S.A.L. Lebanon.

According to the notice, negotiations with the seller could not be finalized, leading to the decision to withdraw the acquisition plan.