Pakistan: The attempts for an ultimate buyout of Lafarge Pakistan Cement Limited (LPCL) intensified on 30 April 2014 as interested parties made public announcements of their intention to acquire shares. That was to comply with the requirements of Listed Companies (Substantial Acquisition of Voting shares and Takeovers) Ordinance 2002. Currently, Lafarge SA has a 73% stake in LPCL.
William Gordon Rodgers, authorised representative of Vision Holding Middle East Limited (VHMEL), made a public announcement of VHMEL's intention to acquire 75.86% of LPCL. He said, "The total number of issued shares of LPCL is 1.45bn. VHMEL intends to buy 1.10bn shares, constituting 75.86% of the total." Rodgers added that if VHMEL proceeds to buy the shares, it would make a public announcement of offer to acquire further ordinary shares of LPCL in accordance with the requirements of the Listed Companies (Substantial Acquisition of Voting shares and Takeovers) Ordinance 2002.
DG Khan Cement Company Limited (DGKC) also disclosed its interest in Lafarge. The company expressed its intention to acquire the 100% stake of Lafarge in LPCL. DGKC's company secretary, Khalid Mahmood Chohan, said, "The proposed transaction will be subject to the relevant approvals and legal formalities, including formalities under the Listed Companies (Substantial Acquisition of Voting shares and Takeovers) Ordinance 2002."
LPCL has an installed capacity of 2.4Mt/yr with its plant located in Chakwal, Chakwal District.
