Lotte Chemical Pakistan Moves to Acquire Majority Stake in Engro Polymer

Lotte Chemical Pakistan Limited has offered to acquire a majority stake in Engro Polymer & Chemicals Limited as part of a potential transaction disclosed to the Pakistan Stock Exchange.

According to the company’s disclosure, the board of directors approved issuing a non-binding offer to Engro Corporation Limited for the acquisition of approximately 56.19 percent of the issued and paid-up share capital of Engro Polymer & Chemicals.

The company has also authorized the commencement of due diligence and approved the issuance of a public announcement of intention under the applicable takeover regulations.

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The proposed transaction remains subject to completion of due diligence, execution of definitive agreements and fulfillment of customary conditions before any final deal is concluded.

If completed, the deal could represent a major consolidation in Pakistan’s petrochemical sector, bringing together two key players in the domestic chemical value chain.

The potential acquisition also comes amid changes in the ownership structure of Lotte Chemical Pakistan. In late 2025, Dubai-based PTA Global Holding acquired a controlling stake in the company as part of restructuring of the multinational parent’s petrochemical business.