Fauji Foundation has acquired a 19.70% stake in Pakistan Services Limited (PSL), which owns and manages the chain of Pearl Continental Hotels, for approximately Rs6.55 billion, i.e. $23.7 million.   Pakistan’s largest conglomerate  acquired 6,406,797 voting shares of Pakistan Services on November 2, 2026, at Rs1,022.42 per share, taking its total shareholding in the company to 19.70% of its voting shares, the disclosure said.  Pakistan Services Limited (PSL) was established in 1958 as a public limited company. The company’s primary business involves owning and managing the “Pearl Continental” chain of hotels. It also grants franchises for the use of its trademark and name and operates a smaller budget hotel property in Lahore.       PSL  has observed significant changes in shareholding in recent years. AKD Group Holdings Limited acquired a 27.95% stake in PSL last year  for over Rs6.36 billion. On the same day, Dawood Jan Mohammad acquired 28% of PSL’s voting shares at Rs700 per share.      (ICE ISLAMABAD)

Fonte notizia: business recorder