Pakistan: Kohat Cement interest in Dewan Cement

Kohat Cement Company Ltd has joined the race to acquire Dewan Cement’s North plant, a 1.134Mta facility located at Hattar industrial estate in northern Pakistan.

The company has informed the Security & Exchange Commission of Pakistan and Pakistan Stock Exchange on 16 December that its Board of Directors has decided to participate in the bidding process for the purchase of North cement plant and its related assets from Dewan Cement Ltd. As a result, it has authorised the management to conduct due diligence, work out assets valuations and to appoint advisors/consultants to transaction.

Earlier, Lucky Cement, Fecto Cement and a Chinese company were also reported to be vying to acquire Dewan Cement.