Fauji Fertilizer joins Arif Habib-led consortium for PIA takeover

Fauji Fertilizer Company Limited (FFC) has announced that its Board of Directors has approved the company’s participation in the bidding consortium led by Arif Habib Corporation Limited for the privatization of Pakistan International Airlines Corporation Limited (PIACL).

The decision follows the approval of FFC’s qualification statement by the Privatisation Commission (PC) in July 2025, enabling the company to join the bid for a majority stake in PIACL.

The consortium, which also includes Fatima Fertilizer Company, Lake City Holdings, AKD Group Holdings, and City Schools, was declared the highest-ranked bidder in the auction held on December 23, 2025.

FFC has been authorized by its board to execute all necessary agreements with the consortium and relevant parties, including the PC, to finalize the acquisition of PIACL shares.

The completion of the transaction, however, remains contingent on several conditions, including the issuance of the Letter of Acceptance by the PC, execution of definitive agreements, and fulfillment of regulatory and corporate approvals.