Massive Deal Reached for PC Hotels Business
Thatta Cement Company Limited has signed a definitive agreement with Fauji Foundation for the proposed restructuring of Pakistan Services Limited, … Read More The post Massive Deal Reached for PC Hotels Business appeared first on ProPakistani .
Thatta Cement Company Limited has finalized a deal with Fauji Foundation regarding the restructuring of Pakistan Services Limited, a company that owns and operates the Pearl Continental hotel chain. This agreement, disclosed on November 11, 2026, remains pending various corporate and regulatory approvals. Thatta Cement's CEO, Kamran Munir Ansari, signed the agreement in accordance with exchange regulations and securities laws.
The restructuring follows a long-standing ownership dispute over Pakistan Services Limited, which escalated in 2025 after AKD Group Holdings and Dawood Jan Mohammad acquired significant stakes in the company. Thatta Cement's acquisition of a 28% stake in October 2025 further intensified the legal battle over the company's ownership and management.
In September 2026, reports suggested a potential settlement where Thatta Cement and Fauji Foundation would share control of five Pearl Continental hotels, with the Lahore, Bhurban, and Muzaffarabad properties going to Fauji Foundation and the Karachi and Rawalpindi properties to Thatta Cement.
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