Pakistan, July 21 -- In a significant corporate development, two firms have acquired nearly 56% of Pakistan Services Limited (PSL), the company that owns and operates the Pearl Continental (PC) Hotel chain. The acquisitions, totaling over Rs12 billion, have raised speculation about a potential management takeover. These transactions were officially reported to the Pakistan Stock Exchange (PSX) under the Securities Act 2015.

Investor Dawood Jan Muhammad purchased around 28% of PSL by acquiring 9,107,800 shares at Rs700 each, amounting to over Rs6.37 billion. On the same day, July 14, AKD Holding also secured a 27.9% stake by buying 9,089,651 shares, also at Rs700 per share. This acquisition was worth more than Rs6.3 billion, bringing the ...