Thatta Cement acquires 28% stake in Pearl Continental Hotels operator

Company notifies acquisition in compliance with regulatory disclosure requirements

Thatta Cement Company Limited has acquired a major 28 per cent stake in Pakistan Services Limited — the parent company operating the Pearl Continental Hotels chain.

In a notice to the Pakistan Stock Exchange (PSX) on Monday, Thatta Cement said it had purchased 9,107,800 voting shares of PSL at a rate of Rs710 per share on October 13, 2025.

Following the transaction, Thatta Cement’s total shareholding in PSL stands at 9.1 million shares, representing 28 per cent of the company’s total issued voting stock.

The transaction, valued at approximately Rs6.5 billion, positions Thatta Cement among the key stakeholders in the country’s leading hospitality group, which operates the Pearl Continental and Marriott hotel brands across Pakistan.

The company notified the acquisition under Section 110 of the Securities Act, 2015, in compliance with regulatory disclosure requirements. 

Pakistan Services Limited, a prominent name in the country’s hotel industry, operates the Pearl Continental and Marriott Hotel brands across major cities including Karachi, Lahore, Islamabad and Peshawar.

The acquisition is seen as part of Thatta Cement’s broader effort to expand its investment portfolio beyond the construction materials sector amid a volatile domestic demand cycle.

According to information available on the PSX website, Thatta Cement Company Limited was incorporated in Pakistan in 1980 as a public limited company. The firm is primarily engaged in the manufacturing and marketing of cement, and also holds a stake in Thatta Power (Private) Limited.