By BR Web Desk
Lucky Cement Limited, one of Pakistan鈥檚 largest conglomerates, clarified that it has not entered into any binding commitment to acquire Pakistan International Airlines (PIACL), despite being part of a consortium shortlisted to conduct due diligence for a potential 51%-100% equity stake in the airline.
In its notice to the Pakistan Stock Exchange (PSX) on Wednesday, the cement maker said any decision to proceed will depend on the outcome of the due diligence process and necessary approvals.
鈥淟ucky Cement Limited, together with other prominent corporate entities-namely Hub Power Holdings Limited, Kohat Cement Company Limited, and Metro Ventures (Private) Limited-formed a consortium and submitted an Expression of Interest and Statement of Qualification for the proposed acquisition of a 51% to 100% equity stake, along with management control, in Pakistan International Airlines Corporation Limited (PIACL), being offered for divestment by the Government of Pakistan through a privatization process,鈥 read the not