Fauji Fertilizer Joins Arif Habib-Led Consortium for PIA Privatisation Bid

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 privatisation of Pakistan International Airlines Corporation Limited (PIACL).

The disclosure follows FFC’s earlier intimation to the Pakistan Stock Exchange that its Statement of Qualification submitted to the Privatisation Commission had been approved, allowing the company to conduct buy-side due diligence for evaluating a potential acquisition of PIACL.

According to the company, the Arif Habib led consortium comprising Fatima Fertilizer Company Limited, The Lake City Holdings (Private) Limited, AKD Group Holdings (Private) Limited, and City Schools (Private) Limited was declared the highest-ranked bidder by the Privatisation Commission following the bidding process held on December 23, 2025.

FFC stated that its board has authorized management to take all necessary steps to finalize and execute required agreements with the consortium and the Privatisation Commission to acquire or subscribe to shares of PIACL, either directly or indirectly through a special purpose vehicle.

The company clarified that completion of the transaction remains subject to the issuance of a Letter of Acceptance by the Privatisation Commission, execution of definitive agreements, and fulfilment of all regulatory, corporate, and other conditions precedent. FFC added that it would keep the Pakistan Stock Exchange informed of any further material developments.