Pakistan, July 10 -- Lucky Cement Limited, one of Pakistan's largest conglomerates, clarified that it has not entered into any binding commitment to acquire Pakistan International Airlines (PIACL), despite being part of a consortium shortlisted to conduct due diligence for a potential 51%-100% equity stake in the airline.
In its notice to the Pakistan Stock Exchange (PSX) on Wednesday, the cement maker said any decision to proceed will depend on the outcome of the due diligence process and necessary approvals.
Lucky Cement informed that the consortium, together with other interested parties, has been pre-qualified by the Privatisation Commission and shortlisted to conduct financial, technical, and legal due diligence on PIACL.
"For clari...