Islamabad, Feb 19: Lotte Chemical Corporation South Korea (LCC Korea) has decided to sell its entire 75.01% stake in Lotte Chemical Pakistan Limited as part of its broader business portfolio transformation. The company’s Board of Directors has authorized the divestment, which will proceed subject to regulatory and corporate approvals.
The potential buyers, AsiaPak Investment Company Limited and Montage Oil DMCC, have already submitted an offer through their transaction manager, Arif Habib Limited (AHL). In a formal statement, AHL confirmed that they have submitted a Public Announcement of Intention (PAI) to acquire at least 75.01% of Lotte Chemical Pakistan Limited on behalf of the acquirers.
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AsiaPak Investments is a diversified investment holding company with a strong presence in Pakistan. It owns controlling stakes in Daewoo Pakistan Express Bus Service Limited and Liberty Power Limited, and has been involved in CPEC’s Thar Coal Block 1 project as an original developer and minority shareholder.
Montage Oil DMCC, a UAE-based company, specializes in petrochemical supply chain management. The firm operates liquid storage facilities in Sharjah, Karachi, Lahore, Ho Chi Minh City, and Qingdao, along with two dry bulk storages in Vietnam and the UAE.
The sale of Lotte Chemical Pakistan marks a significant shift in the chemical and petrochemical landscape of Pakistan. While the transaction is still subject to regulatory approvals, the entry of new investors could bring fresh capital and strategic direction to the company. Market analysts will closely watch the acquisition’s impact on Lotte Chemical Pakistan’s operational strategy and market position.
