Engro Corporation Limited, the wholly-owned subsidiary of Engro Holdings Limited, has signed a Share Purchase Agreement with Lotte Chemical Pakistan Limited to sell its entire stake in Engro Polymer & Chemicals Limited (EPCL) for approximately Rs19.7 billion, or around $70.95 million.
The stake being sold represents approximately 56.19 percent of EPCL’s issued and paid-up ordinary share capital. The transaction remains subject to regulatory approvals and other customary closing conditions.
EPCL has been part of Engro Corporation’s portfolio since 1997 and operates Pakistan’s only integrated chlor-vinyl complex. The company supplies products including PVC resin, caustic soda, and hydrogen peroxide to multiple downstream industries and has also served as a training ground for engineering talent in Pakistan’s petrochemicals sector.
The agreement follows a corporate restructuring in 2025 that established Engro Holdings as the group’s investment arm. Since then, Engro Holdings has pursued several major transactions, including the $562 million Deodar deal.
Abdul Samad Dawood, CEO of Engro Holdings, said EPCL had been one of the company’s flagship businesses for nearly three decades, built through partnerships with leading international companies.
He said the proposed transaction would allow Engro to realise the value created through that journey while unlocking synergies for EPCL within a larger petrochemicals platform, and would strengthen the company’s ability to pursue new investment opportunities.
Adnan Afridi, CEO of Lotte Chemical Pakistan Limited, said the combination would create a stronger platform for sustainable growth, operational excellence, and innovation, and would enhance competitiveness while delivering greater value to customers and stakeholders.
