{
  "id": 17915504,
  "title": "Fauji Foundation acquires nearly 20% stake in Pakistan Services for Rs6.55 billion",
  "url": "https://urgent.news/2026/11/03/fauji-foundation-acquires-nearly-20-stake-in-pakistan-services-for",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-03T05:12:07.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40447179/fauji-foundation-acquires-nearly-20-stake-in-pakistan-services-for-rs655-billion"
  },
  "original_language": "en",
  "account": null,
  "summary": "Fauji Foundation, a major conglomerate in Pakistan, has acquired a 19.70% stake in Pakistan Services Limited (PSL) for approximately Rs6.55 billion ($23.7 million). PSL made the announcement to the Pakistan Stock Exchange (PSX) on Tuesday, revealing that the conglomerate acquired 6,406,797 voting shares of the company at Rs1,022.42 per share. The acquisition was conducted under Section 110 of the Securities Act, 2015, and the deal was notified to the PSX. PSL, established in 1958, primarily operates the Pearl Continental hotel chain and grants franchises for its trademark. The company has seen significant changes in shareholding over the past year, with AKD Group Holdings and Dawood Jan Mohammad acquiring substantial stakes prior to Fauji Foundation's investment.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}