Maple Leaf Cement Factory Limited (MLCF) has announced that its Board of Directors is considering the potential acquisition of shares in Pioneer Cement Limited, pending completion of due diligence, finalization of commercial terms, regulatory approvals, and execution of definitive agreements.
MLCF is one of Pakistan’s leading cement manufacturers, and Pioneer Cement is a key player in the industry. Strategic acquisitions are part of the company’s expansion plans to strengthen its market presence and scale operations in line with growing demand for cement in Pakistan.
The potential acquisition will involve a public offer, and Next Capital Limited has been appointed as the Manager to the Offer. They are authorized to handle all legal and procedural obligations for the public announcement and offer. MLCF has assured the Pakistan Stock Exchange (PSX) that it will provide updates on material developments as the transaction progresses.
“The Board of Directors is committed to keeping all stakeholders informed and will follow all regulatory and procedural requirements as this potential acquisition moves forward,” said MLCF in its disclosure to PSX.
This move underscores MLCF’s ambition to expand its footprint in Pakistan’s cement sector and create long-term value for shareholders.