Lotte Chemical Pakistan floats offer to buy 56% stake in Engro Polymer

Lotte Chemical Pakistan Limited has made an offer to acquire a majority stake in Engro Polymer & Chemicals Limited, according to a disclosure made to the Pakistan Stock Exchange. The company said its board of directors approved issuing a non-binding offer to Engro Corporation Limited for the acquisition of approximately 56.19% of the issued and paid-up share capital of its subsidiary, Engro Polymer & Chemicals. Lotte Chemical Pakistan also authorized the due diligence and approved the issuance of a public announcement of intention under applicable takeover regulations. The proposed transaction remains subject to the completion of due diligence, execution of definitive agreements and fulfillment of customary conditions before any final deal is concluded. If completed, the deal could mark a significant consolidation in Pakistan’s petrochemical sector, bringing together two major players in the domestic chemical value chain. The potential acquisition comes amid changes in the ownership structure of Lotte Chemical Pakistan. In late 2025, Dubai-based PTA Global Holding acquired a controlling stake in the company as part of a restructuring of the multinational parent’s petrochemical business.