Engro board authorises negotiations on Lotte Chemical offer to acquire EPCL stake

Engro Corporation’s board has authorised management to begin negotiations on a non-binding offer from Lotte Chemical Pakistan Limited to acquire the company’s stake in Engro Polymer & Chemicals Limited (EPCL).

The development was disclosed by Engro Holdings Limited in a notice submitted to the Pakistan Stock Exchange on Friday.

According to the disclosure, Lotte Chemical Pakistan issued a public announcement of intention on March 10, 2026, expressing interest in acquiring approximately 56.19% of the paid-up share capital of EPCL held by Engro Corporation.

The stake represents Engro Corporation’s entire shareholding in EPCL.

At a meeting held on March 12, the board of Engro Corporation reviewed the offer and authorised management to negotiate the terms and conditions of the proposed transaction.

Management has also been tasked with finalising related documentation and presenting the negotiated terms to the board for approval.

The company said shareholders will be informed of further developments through additional disclosures as the process progresses.