Massive Deal Reached for PC Hotels Business

Thatta Cement Firm Limited has signed a definitive agreement with Fauji Foundation for the proposed restructuring of Pakistan Services Limited, marking a major development in the restructuring process.

Key points

• The firm produced the announcement in accordance with Clause 5.6.1 of the Pakistan Stock Exchange Regulations and Section 96 of the Securities Act, 2015.
• While Fauji Foundation subsequently acquired a 19.70 percent stake in Pakistan Services for approximately Rs, thatta Cement confirmed an in-principle understanding on September 10.
• Thatta Cement subsequently acquired a 28 percent stake in October 2025 for approximately Rs.
• Govt Announces New Rules for Employees Seeking Jobs Abroad.
• The restructuring follows a prolonged ownership dispute over Pakistan Services Limited, the listed firm that owns and operates the Pearl Continental hotel chain.

In practice, the agreement remains subject to the required corporate, regulatory, and other approvals.

Fauji Foundation Enters Hospitality Sector With Rs. 6.55 Billion Stake in PC Hotels Owner. Definitive Agreement Signed With Fauji Foundation.

In a disclosure submitted to the Pakistan Stock Exchange on November 11, 2026, Thatta Cement informed the exchange that it had entered into a definitive agreement with Fauji Foundation concerning the proposed restructuring of Pakistan Services Limited.

In practice, the firm produced the announcement in accordance with Clause 5.6.1 of the Pakistan Stock Exchange Regulations and Section 96 of the Securities Act, 2015. The disclosure was signed by Thatta Cement Chief Executive Officer Kamran Munir Ansari. Conclusion to Prolonged Ownership Dispute.

In practice, the restructuring follows a prolonged ownership dispute over Pakistan Services Limited, the listed firm that owns and operates the Pearl Continental hotel chain.

Meanwhile, the dispute intensified in 2025 after AKD Group Holdings acquired a 27.95 percent stake and Dawood Jan Mohammad acquired another 28 percent of the company's voting shares.

Thatta Cement subsequently acquired a 28 percent stake in October 2025 for approximately Rs. 6.45 billion, triggering a legal battle over the company's ownership and management that reached the Islamabad High Court.

In September 2026, reports emerged of a proposed out-of-court settlement under which five Pearl Continental hotels could be divided between Thatta Cement and Fauji Foundation, with Karachi and Rawalpindi properties going to Thatta Cement and Lahore, Bhurban, and Muzaffarabad properties going to Fauji Foundation. Govt Announces New Rules for Employees Seeking Jobs Abroad.

While Fauji Foundation subsequently acquired a 19.70 percent stake in Pakistan Services for approximately Rs, thatta Cement confirmed an in-principle understanding on September 10. 6.55 billion in November.

Although its final terms and the proposed division of hotel properties have not been disclosed, the November 11 definitive agreement between Thatta Cement and Fauji Foundation marks the latest development in the restructuring process. Stay Connected with ProPakistani.

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Taken together, the developments around massive Deal Reached for PC Hotels Business point to a situation that is still moving, and the coming days should bring more clarity.