Daewoo Pakistan’s owner, AsiaPak Investments Limited, in collaboration with Montage Oil DMCC, has officially submitted an offer to acquire a 75.01% stake in Lotte Chemical Pakistan Limited. The offer was made through Arif Habib Limited (AHL), acting as the manager to the transaction, and was disclosed to the Pakistan Stock Exchange (PSX) on Thursday.
A Major Acquisition in Pakistan’s Industrial Landscape
This acquisition, if successful, will mark a significant shift in Pakistan’s petrochemical and industrial sectors, bringing in strategic investors with vast experience in energy, logistics, and infrastructure.
🔹 Offer Details:
- Target Company: Lotte Chemical Pakistan Limited
- Acquiring Firms: AsiaPak Investments Limited & Montage Oil DMCC
- Stake Acquisition: 75.01% controlling shares
- Public Offer: At least 50% of the remaining voting shares per Regulation 14 of the Listed Companies Regulations, 2017
Who Are the Key Players?
AsiaPak Investments Limited
Owned by Shaheryar Arshad Chishty, AsiaPak is an investment holding company with controlling stakes in Daewoo Pakistan Express Bus Service Limited and Liberty Power Limited. The company also played a pivotal role in developing the Thar Coal Block 1 mine, a key project under the China-Pakistan Economic Corridor (CPEC) initiative.
Montage Oil DMCC
A UAE-based entity led by Muhammad Ali Cheema and Faraz Ahmed, Montage Oil specializes in petrochemical supply chains and logistics. The company operates liquid storage facilities in major international locations, including Karachi, Lahore, Sharjah, Ho Chi Minh City, and Qingdao. Additionally, it runs dry bulk storage units in Vietnam and the UAE.
What This Means for Pakistan’s Petrochemical Industry
If approved, this deal could bring new investment, expertise, and operational efficiencies to Lotte Chemical Pakistan. The partnership aligns with the government’s push to attract foreign investment and strengthen Pakistan’s industrial base.
Final Thoughts
With AsiaPak’s expertise in infrastructure and Montage Oil’s strength in petrochemical logistics, this acquisition could reshape Pakistan’s chemical and energy sectors. Stay tuned for further updates as the deal progresses!
