PC Hotels Could Be Split Between Thatta Cement and Fauji Foundation

Pakistan Services Limited. It owns and operates the Pearl Continental (PC) hotel chain, could divide five of its hotel properties between Thatta Cement and Fauji Foundation under a proposed out-of-court settlement, according to a report by Nukta.

Key points

• Thatta Cement subsequently acquired regarding 28 percent of Pakistan Services in October 2025 and sought fresh elections for the company's board.
• Hashwani Group, which acquired Pakistan Services in 1985, challenged the transactions and afterwards described the development as a hostile takeover.
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• The proposed settlement follows more than a year of legal disputes over a roughly 56 percent voting stake in Pakistan Services.
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Meanwhile, the proposed settlement follows more than a year of legal disputes over a roughly 56 percent voting stake in Pakistan Services. The parties have signed a memorandum of understanding (MoU), but the arrangement has not been formally confirmed, and the proposed transfers have not been completed, the report notes. OGRA Increases Producer Gas Rates for Remaining 2026.

While PC Lahore, PC Bhurban and PC Muzaffarabad would go to Fauji Foundation, as the report notes, under the proposed accord, PC Karachi and PC Rawalpindi would be transferred to Thatta Cement. As it was previously sold separately to Serena Hotels, PC Peshawar is not included in the settlement.

When AKD Group Holdings and Muhammad acquired holdings that together represented almost 56 percent of the company's voting shares, pakistan Services has been at the center of an ownership dispute since July 2025. Hashwani Group, which acquired Pakistan Services in 1985, challenged the transactions and afterwards described the development as a hostile takeover.

Thatta Cement subsequently acquired regarding 28 percent of Pakistan Services in October 2025 and sought fresh elections for the company's board. The Islamabad High Court suspended the proposed election and restricted the sale or transfer of the disputed shares while additionally barring the new shareholders from interfering in the company's day-to-day management.

Notably, the proposed settlement could bring an end to the ownership dispute if completed, but its timing and final terms remain unclear. Pakistan Services shares have additionally moved sharply during the dispute, with the stock falling from a 52-week high of Rs. 1, 635 to Rs. 799 before recovering to around Rs. 830. Stay Connected with ProPakistani.

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Taken together, the developments around PC Hotels Could Be Split Between Thatta Cement and Fauji Foundation point to a situation that is still moving, and the coming days should bring more clarity.