Karachi February 20 2025: The Board of Directors of the Lotte Chemical Corporation (LCC Korea), the majority (75.01%) shareholder of Lotte Chemical Pakistan Limited has entered into Share Purchase Agreement dated 19 February 2025 with M/s. AsiaPak Investments Limited and Montage Oil DMCC for the sale of all of the Company’s shares as part of LCC Korea’s business portfolio transformation, according to company filing to the Pakistan Stock Exchange.
The Lotte Chemical Corporation held by LCC Korea (i.e.1,135,860,105 shares constituting approximately 75.01% of the issued and paid-up capital of the Company.
The consummation of the Divestment shall remain subject to procurement of all applicable regulatory and corporate approvals (as may be required) and fulfilment of the requisite closing conditions. The Company shall keep the Exchange apprised of all further developments in respect of the Divestment.
