EPCL: Japanese Company Exit and Local Investor Entering
KARACHI: In a major shift in the ownership structure of Pakistan’s chemical sector, the Japanese conglomerate Mitsubishi Corporation has decided to divest its entire stake in Engro Polymer & Chemicals Limited (EPCL).
The EPCL informed the Pakistan Stock Exchange (PSX) on Tuesday that it has received a formal letter from Mitsubishi Corporation regarding the execution of a Share Purchase Agreement (SPA). Under the agreement, Mitsubishi will sell its 100,053,562 shares—representing approximately 11.01% of the company’s total paid-up capital—to local buyers.
The shares are set to be acquired by Liberty Daharki Power Limited and Seagreen Enterprises (Private) Limited. The transaction follows direct negotiations between the Japanese giant and the acquirers. This deal will finalize after the regulatory approval.
Strategic Recalibration Mitsubishi Corporation, a core member of the global Mitsubishi Group, has been a long-standing foreign shareholder in EPCL. Its exit comes at a time when the industrial landscape in Pakistan is evolving. While the specific reasons for the divestment were not detailed in the filing, market analysts view this as a recalibration of international exposure by the Japanese firm.
About Engro Polymer & Chemicals Engro Polymer & Chemicals, a subsidiary of Engro Corporation, is Pakistan’s only fully integrated chlor-vinyl chemical complex. Headquartered in Karachi, the company is a dominant player in the manufacturing and marketing of Poly Vinyl Chloride (PVC), Caustic Soda, and related products. The entry of Liberty Daharki Power and Seagreen Enterprises as significant shareholders is expected to bring a new dynamic to the company’s board. As of the latest market reports, EPCL’s share price and investor sentiment will be closely monitored as the regulatory approval process unfolds.
