Karachi, April 30, 2026 — Dubai Islamic Bank Pakistan Limited (DIBPL) has successfully closed a USD 76 million financing facility linked to the acquisition of a majority stake in Attock Cement Pakistan Limited by a consortium comprising Fauji Cement Company Limited and Kot Addu Power Company Limited.
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According to the announcement, the consortium has acquired an 84.06 percent stake in Attock Cement, marking one of the notable transactions in Pakistan’s mergers and acquisitions sector in recent years.
DIBPL served as the largest financier, lead advisor, and Shariah advisor for the transaction, playing a key role in structuring and arranging the financing package. The bank also provided a Shariah-compliant financial solution, while Mohsin Tayebaly & Co acted as transaction legal counsel.
Muhammad Ali Gulfaraz, President of Dubai Islamic Bank Pakistan, said the institution was pleased to support the acquisition through a comprehensive financing and advisory framework. He noted that the transaction reflects the bank’s focus on facilitating complex and high-impact deals within Pakistan’s corporate sector.
Khadija Wajahat, Head of Investment Banking at DIBPL, stated that the deal highlights the strength of the bank’s integrated platform, combining financing, advisory, and Shariah structuring capabilities. She added that the bank remains committed to supporting strategic transactions that contribute to long-term economic growth.
The transaction also represents a significant shift in ownership of a major industrial asset from foreign stakeholders to local corporate entities, a development expected to strengthen domestic industrial participation and value creation within Pakistan’s economy.
DIBPL acknowledged the cooperation of the acquiring companies and their management teams, emphasizing that close coordination was instrumental in executing the transaction successfully.
Industry observers view the acquisition as an important development for Pakistan’s cement and industrial sectors, reflecting continued investor confidence and strategic consolidation activity in the local market.
