Pharaon Investment Group Limited (Holding) S.A.L, Lebanon, the parent company of Attock Cement Pakistan Limited (ACPL), is exploring strategic options for its investment in Pakistan’s cement sector, which may include a potential sale. The development was disclosed by Attock Cement in a notice to the Pakistan Stock Exchange (PSX) on Wednesday.

In the notice, Attock Cement shared that it had received a letter from its parent company regarding the re-evaluation of its long-term strategic plans. “We hereby notify you that we have received a letter from Pharaon Investment Group Limited (Holding) S.A.L, Lebanon, advising us about their intention to re-evaluate their long-term strategic options, including a potential sale, in relation to their investment in the cement business in Pakistan,” the company stated.

The letter from Pharaon Investment Group further clarified that no formal decision has been made yet. “We will be carefully considering various options, including a potential sale, with due consideration to appropriate pricing, timelines, and broader market conditions before taking a final decision,” the letter read. To assist in this process, the group has appointed Standard Chartered Bank as its international financial advisor.

The parent company assured that a thorough analysis of all available options would be conducted before reaching a final decision. “Once we have completed a thorough analysis of our options, a final decision will be made considering all the factors involved. We will keep you fully informed of any significant developments as we move along in this process,” it added.

Attock Cement Pakistan Limited, incorporated on October 14, 1981, as a public limited company, is a subsidiary of Pharaon Investment Group Limited (Holding) S.A.L, Lebanon. The company’s primary business activity is the manufacturing and sale of cement.