Latest news with #CompetitionCommissionofPakistan
Business Recorder
a day ago
- Business
- Business Recorder
CCP approves 69 M&A deals during FY2024-25
ISLAMABAD: The Competition Commission of Pakistan (CCP) approved a total of 69 merger and acquisition (M&A) transactions during the fiscal year 2024-25, facilitating foreign direct investment (FDI) inflows of approximately $50 million. These transactions spanned diverse sectors including food, finance, logistics, aerospace, media, and e-commerce, underscoring the CCP's critical role in promoting fair competition and enhancing investor confidence in Pakistan's economy. Prominent FDI transactions included a joint venture between NLC and DP World Logistics FZE, facilitated by SIFC, and the acquisition of Wemsol by Bazaar Technologies in the e-commerce sector. In agribusiness, Italy's Euricom S.P.A. acquired 50% of Fatima Euricom Rice Mills. The media sector saw Berkeley Square Holding BV acquire 50% stakes in Ogilvy & Mather, Mindshare, and Soho Square Pakistan. Additionally, Saudi firm Wakeb Data Company acquired an 80% stake in drone technology company Woot Tech. In addition to foreign investment transactions, the CCP approved 64 domestic M&A deals across sectors such as retail, services, logistics, energy, food, and manufacturing. Sector-wise, 25 transactions occurred in industrial and manufacturing, 14 in energy and power, 13 in services, 11 in financial services, five in consumer goods and retail, and one in real estate. Major domestic transactions included Asyad Holding's acquisition of 77.42% shares in Shell Pakistan via UAE-based Wafi Energy, marking a key move in the energy sector. Alfalah Asset Management took over fund management rights from Faysal Asset Management, while Sapphire Fibres and Mindbridge jointly acquired Uch Power and Uch-II Power. Other notable domestic transactions were PPR Holding A.S. acquiring full ownership of SadaPay Technologies, Nimir Industrial Chemicals acquiring assets of Procter & Gamble Pakistan, Naubahar Bottling Company acquiring bottling assets of JK Sugar Mills, and the merger of DWP Engineering Industries with Digital World Pakistan. Additionally, during FY2024-25, the CCP granted 38 conditional and time-bound exemptions under the Competition Act, 2010. These exemptions were awarded across multiple sectors including automotive, pharmaceuticals, consumer goods, food & beverages, energy, logistics, telecommunications, banking & finance, tobacco, aviation, and packaging. Copyright Business Recorder, 2025
Express Tribune
a day ago
- Business
- Express Tribune
Merger deals bring $50m foreign investment
Listen to article The Competition Commission of Pakistan (CCP) approved a total of 69 merger and acquisition (M&A) transactions during fiscal year 2024-25, facilitating foreign direct investment (FDI) inflows of approximately $50 million. These transactions spanned diverse sectors including food, finance, logistics, aerospace, media and e-commerce, underscoring the CCP's critical role in promoting fair competition and enhancing investor confidence in Pakistan's economy, according to a statement issued on Tuesday. Prominent FDI transactions included a joint venture between National Logistics Corporation (NLC) and DP World Logistics, facilitated by the Special Investment Facilitation Council (SIFC), and the acquisition of Wemsol by Bazaar Technologies in the e-commerce sector. In agribusiness, Italy's Euricom acquired 50% of Fatima Euricom Rice Mills. The media sector saw Berkeley Square Holding acquire a 50% stake in Ogilvy & Mather, Mindshare and Soho Square Pakistan. Additionally, Saudi firm Wakeb Data Company acquired an 80% stake in drone technology company Woot Tech. In addition to foreign investment transactions, the CCP approved 64 domestic M&A deals across sectors such as retail, services, logistics, energy, food and manufacturing. Sector-wise, 25 transactions were made in the industrial and manufacturing category, 14 in energy and power, 13 in services, 11 in financial services, five in consumer goods and retail and one in real estate. Major domestic transactions included Asyad Holding's acquisition of 77.42% shares in Shell Pakistan via UAE-based Wafi Energy, marking a key move in the energy sector. Alfalah Asset Management took over fund management rights from Faysal Asset Management while Sapphire Fibres and Mindbridge jointly acquired Uch Power and Uch-II Power. Other notable domestic transactions were PPR Holding acquiring full ownership of SadaPay Technologies, Nimir Industrial Chemicals acquiring assets of Procter & Gamble Pakistan, Naubahar Bottling Company acquiring bottling assets of JK Sugar Mills and the merger of DWP Engineering Industries with Digital World Pakistan. Additionally, during FY25, the CCP granted 38 conditional and time-bound exemptions under the Competition Act 2010. These exemptions were given across sectors like automotive, pharmaceuticals, consumer goods, food & beverages, energy, logistics, telecommunications, banking & finance, tobacco, aviation and packaging.
Business Recorder
2 days ago
- Business
- Business Recorder
‘$50mn in FDI': CCP approves 69 merger and acquisition in FY2024-25
The Competition Commission of Pakistan (CCP) approved a total of 69 merger and acquisition (M&A) transactions during the fiscal year 2024-25, facilitating foreign direct investment (FDI) inflows of approximately $50 million, a CCP statement said on Tuesday. The transactions spanned diverse sectors, including food, finance, logistics, aerospace, media, and e-commerce, it added. 'Prominent FDI transactions included a joint venture between NLC and DP World Logistics FZE, facilitated by SIFC, and the acquisition of Wemsol by Bazaar Technologies in the e-commerce sector. FY2024-25: CCP ramps up enforcement against cartels, deceptive marketing In agribusiness, Italy's Euricom S.P.A. acquired 50% of Fatima Euricom Rice Mills. The media sector saw Berkeley Square Holding BV acquire 50% stakes in Ogilvy & Mather, Mindshare, and Soho Square Pakistan. Additionally, Saudi firm Wakeb Data Company acquired an 80% stake in drone technology company Woot Tech,' the statement read. In addition to foreign investment transactions, CCP approved 64 domestic M&A deals across sectors such as retail, services, logistics, energy, food, and manufacturing. Sector-wise, 25 transactions occurred in industrial and manufacturing, 14 in energy and power, 13 in services, 11 in financial services, five in consumer goods and retail, and one in real estate. Major domestic transactions included Asyad Holding's acquisition of 77.42% shares in Shell Pakistan via UAE-based Wafi Energy, marking a key move in the energy sector. Alfalah Asset Management took over fund management rights from Faysal Asset Management, while Sapphire Fibres and Mindbridge jointly acquired Uch Power and Uch-II Power, CCP said. 'Other notable domestic transactions were PPR Holding A.S. acquiring full ownership of SadaPay Technologies, Nimir Industrial Chemicals acquiring assets of Procter & Gamble Pakistan, Naubahar Bottling Company acquiring bottling assets of JK Sugar Mills, and the merger of DWP Engineering Industries with Digital World Pakistan.' Additionally, during FY2024-25, CCP said it granted 38 conditional and time-bound exemptions under the Competition Act, 2010. Two firms found guilty of Rs1.13bn anti-competitive pact in pharmaceutical sector 'These exemptions were awarded across multiple sectors, including automotive, pharmaceuticals, consumer goods, food & beverages, energy, logistics, telecommunications, banking & finance, tobacco, aviation, and packaging,' the commission said.
Business Recorder
2 days ago
- Business
- Business Recorder
CCP conducts 24 inquiries in 2024-25
ISLAMABAD: To ensure fair business practices in markets, the Competition Commission of Pakistan (CCP) conducted 24 new inquiries in corporate sector including 11 related to cartelization and 13 concerning deceptive marketing practices in 2024-25. The CCP undertook robust enforcement measures in fiscal year (2024–25), targeting cartelization, abuse of dominant position, and deceptive marketing practices. The Commission successfully concluded 14 investigations, which were forwarded for the adjudication process. The sectors under scrutiny included e-commerce, telecommunications, aviation, steel, transport, edible ghee and cooking oil, pharmaceuticals, construction, commodities, and education. The Cartel and Trade Abuse Department of the CCP, in its efforts to curb cartelization and market manipulation, initiated 11 new inquiries across various sectors, including e-commerce, telecommunications, aviation, steel, transport, edible ghee, cooking oil, and gas. In addition, 10 ongoing inquiries from previous periods were also under investigation. The department successfully concluded 9 inquiries, which were subsequently forwarded for adjudication. A key case involved ten steel structure suppliers allegedly engaged in bid rigging in tenders issued by power distribution companies (DISCOs). Another major case focused on two leading flat steel manufacturers accused of price fixing. In the transport sector, proceedings were initiated against the Transporters Goods Association (TGA) and the Local Goods Transport Association (LGTA) for allegedly fixing freight rates for cargo transport from Port Qasim. In the cables industry, leading companies were investigated for restricting their dealers from offering discounts below the notified prices—an act considered a prohibited agreement under Resale Price Maintenance (RPM). The CCP's Office of Fair Trade (OFT) initiated 13 new investigations against businesses involved in deceptive marketing practices. Additionally, 8 inquiries from the previous year remained ongoing. OFT successfully concluded five investigations—two in the pharmaceutical sector and one each in the construction, commodities, and education sectors. Notable cases of deceptive marketing included AR Amreli Builders for unauthorized use of Amreli Steels' trademark, Panther Tyres for allegedly misleading claims of being 'Pakistan's No 1 Tyre,' and FS Cosmetics for copying Dabur Amla Hair Oil's packaging — for making misleading claims. Chairman CCP, Dr Kabir Sidhu, stated that cartelisation, market manipulation through abuse of dominance, and deceptive marketing severely harm consumer rights and distort healthy competition. He emphasized that the CCP maintains zero tolerance for such practices and is committed to taking strict action against them. Copyright Business Recorder, 2025
Business Recorder
6 days ago
- Business
- Business Recorder
IMS Electric: Shares acquisition gets CCP nod
ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the acquisition of shareholding in IMS Electric (Private) Limited under a share purchase agreement. The shares will be acquired by Danish Ghous and Syed Jawad Bin Saghir from the current shareholders — Anila Haq, Faizan Ul Haq and Tooba Haq. In its Phase-I review, the CCP assessed the relevant product market as 'Switchgears and Transformers.' The Commission concluded that the proposed transaction does not substantially lessen competition nor create or strengthen a dominant position in the market. IMS Electric (Private) Limited, formerly known as Schneider Electric Pakistan, is engaged in the manufacturing and sale of switchgears and distribution boards, as well as the trading of transformers. The company also provides services related to electrical erections and installations. Copyright Business Recorder, 2025
