PIA Privatization
PAKISTAN
Arif Habib Group has informed the Pakistan Stock Exchange (PSX) that a consortium led by Arif Habib Corporation Limited (AHCL) has emerged as the highest ranked bidder in the privatization process of Pakistan International Airlines Corporation Limited (PIACL).
According to the disclosure, the AHCL-led consortium—comprising Fatima Fertilizer Company Limited, The Lake City Holdings (Private) Limited, AKD Group Holdings (Private) Limited and City Schools (Private) Limited—participated in the bidding process held on December 23, 2025.
The consortium submitted a bid of Rs135 billion for the step-wise acquisition of a 75 percent equity stake in PIACL, in line with the applicable transaction documents. Based on the bid price, the AHCL-led group has been declared the highest ranked bidder in the privatization process.
The company clarified that, in accordance with the prescribed privatization framework, confirmation of acceptance of the bid remains subject to the required approvals. These include the recommendations and approvals of the Board of the Privatization Commission and a final decision by the Government of Pakistan and the Federal Cabinet.
Upon receipt of the necessary approvals, a Letter of Acceptance will be issued, formally declaring the AHCL-led consortium as the successful bidder.
Fatima Fertizer’s notice to PSX
We are pleased to inform you that the consortium led by Arif Habib Corporation Limited (AHCL), comprising Fatima Fertilizer Company Limited, The Lake City Holdings (Private) Limited, AKD Group Holdings (Private) Limited and City Schools (Private) Limited, has participated in the bidding process for the privatisation of Pakistan International Airlines Corporation Limited (PIACL) held on 23rd December 2025. The AHCL-led consortium has been declared the Highest Ranked Bidder after submitting a bid price of PKR 135 billion for the step-wise acquisition of 75% equity stake in PIACL, in accordance with the applicable transaction documents.
In line with the prescribed privatisation process, confirmation of acceptance of the bid price remains subject to the requisite approvals, including approvals and recommendations of the Board of the Privatisation Commission and the decision of the Government of Pakistan / Federal Cabinet. Upon receipt of such approvals, a Letter of Acceptance shall be issued declaring the Successful Bidder. – ER Web Desk
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