A major development has emerged in Pakistan’s chemical industry as LOTTE Chemical Pakistan Limited has expressed interest in acquiring a controlling stake in Engro Polymer & Chemicals Limited.
The company has submitted a non-binding offer to Engro Corporation Limited, seeking to purchase around 56.19% of EPCL’s issued and paid-up share capital.
LOTTE Chemical Pakistan is part of the global Lotte Group, one of South Korea’s major industrial conglomerates. The company already operates in Pakistan’s chemical market and has been involved in the production of purified terephthalic acid (PTA), which is used in the textile and polyester industries.
The disclosure was made to the Pakistan Stock Exchange (PSX) on March 9, 2026, informing the market that LOTTE intends to pursue the potential acquisition. If the deal moves forward, the stake would give LOTTE Chemical a majority position and operational control of the company.
According to the disclosure, the offer is non-binding, which means it reflects the company’s intention to explore the deal but does not yet represent a final agreement. The board has approved the start of a due diligence process, during which LOTTE Chemical will examine EPCL’s financial records, operations, and business prospects before making any final decision.
The announcement was made in compliance with the Securities Act, 2015 and the regulatory requirements of the stock exchange. Any final transaction would depend on the completion of due diligence and the signing of formal legal agreements between the parties.
Engro Polymer holds a significant position in Pakistan’s industrial sector. It is widely known as the country’s only producer of PVC (polyvinyl chloride), a key material used in construction, pipes, cables, and several other manufacturing industries.
