Fauji Foundation has acquired a 19.70% voting stake in Pakistan Services Limited, the listed company behind the Pearl-Continental hotel chain, for approximately Rs6.55 billion.
According to the disclosure made to the Pakistan Stock Exchange on November 3, Fauji Foundation purchased 6,406,797 voting shares on November 2 at:
Rs1,022.42 per share.
The acquired shares represent Fauji Foundation’s entire disclosed holding in Pakistan Services.
Fauji Foundation’s PSEL Investment
| Detail | Amount |
|---|---|
| Shares acquired | 6,406,797 |
| Stake | 19.70% |
| Price per share | Rs1,022.42 |
| Approx. transaction value | Rs6.55 billion |
| Acquisition date | November 2, 2026 |
Pakistan Services said it received formal notification of the acquisition from Fauji Foundation and disclosed it under Section 110 of the Securities Act, 2015 and the applicable takeover regulations.
No Change of Control Announced
The filing confirms Fauji Foundation as a substantial shareholder, but it does not announce a takeover or change of control at Pakistan Services.
The disclosure also shows that Fauji Foundation currently has no nominee director on the PSEL board and reported no persons acting in concert with it in the acquisition.
Pakistan Services owns and operates the Pearl-Continental hotel business and related hospitality operations.
Fauji Foundation Paid a Higher Share Price
The Rs1,022.42 acquisition price is notably above prices reported in previous major PSEL share transactions.
Thatta Cement’s earlier acquisition was reported at around Rs710 per share, meaning Fauji Foundation’s latest purchase price is roughly 44% higher.
Earlier ownership transactions in 2025 had also taken place at around Rs700 per share.
Deal Comes Amid PSEL Ownership Restructuring
The acquisition comes during a long-running dispute over the ownership and management of Pakistan Services.
In September 2026, Pakistan Services confirmed that a proposed restructuring was being negotiated as part of efforts to resolve a matter pending before the Islamabad High Court.
The company said at the time that final terms would depend on definitive agreements and would be formally disclosed once completed.
Media reports had earlier suggested that a possible settlement could involve certain Pearl-Continental properties being divided between Thatta Cement and Fauji Foundation.
However, Pakistan Services previously said it had no formal knowledge of the reported hotel split, and its later official restructuring disclosure did not confirm which properties, if any, would change hands.
Fauji Foundation’s newly disclosed 19.70% stake therefore represents a significant new development in PSEL’s evolving ownership structure, although the final restructuring arrangements remain to be formally announced.
