CCP approves 13 acquisitions in various sectors

December 04, 2018 (MLN): The Competition Commission of Pakistan, as a part of its statutory mandate, has recently approved 13 notified acquisitions in various sectors of Pakistan's economy, revealed a recently issued, official press release.

According to the press release, all these acquisitions have the potential to bring in Foreign Direct Investment and create jobs in the country, and are key to realizing Pakistan's ambition of becoming a regional leader in terms of economy and industry.

The bulletin reveals that, in Power Generation, the Commission has approved the acquisition of shareholding in ThalNova Power Thar (Pvt.) Limited by Hub Power Holdings Limited.

In Healthcare, the Commission has approved UPL Corporation's acquisition of Arysta LifeScience Inc., including its local subsidiary Arysta LifeScience Pakistan (Pvt.) Ltd.

Moreover, in the Pharmaceutical sector, the Commission has approved SAAS Enterprises' acquisition of shareholding in Macter International Limited, one of Pakistan's leading pharmaceutical companies with over 30 years of global experience. SAAS Enterprises was primarily formed as a real estate investment company with the aim to acquire strategic real estate assets, however the company also makes long term equity investments.

The report further adds that, the Commission has also approved the acquisition of Alfalah Securities (Private) Limited by CLSA JV Holdings Private Limited, moreover, The acquisition of shareholding in IGI Holdings Limited by an individual was also approved.

While, in Telecommunications, the acquisition of Sharp Telecom (Pvt.) Limited by HB International Investments was approved.

In the Locomotive sector, the Commission has approved the acquisition of General Electric Company's transport business segment by Westinghouse Airbrake Technologies Corporation.

Furthermore, in Specialty chemicals and Petrochemicals, the Commission has approved the acquisition of LCY Chemical Corp. by Carlton (Luxembourg) Holdings S.a.r.l., a subsidiary of Carlton Holdings (Cayman) Limited.

In Steel, the Commission has approved the acquisition of shareholding in Macsteel International Holdings by Macsteel Global S.à.r.l. Macsteel Global S.à.r.l., a company based in Luxembourg, processes and distributes steel.

Likewise, in Aviation, the Commission approved the acquisition of Apollo Aviation Holdings Limited by TC Group, L.L.C., a member of The Carlyle Group L.P.

While, for Liquefied Petroleum Gas, the acquisition of Marshall Gas' LPG plant by Hascol Petroleum was approved.

In the sector for Automobile Rentals, the Commission has approved the acquisition of shareholding in Optimus Limited by PHL (Pvt.) Ltd.

Lastly, In the Entertainment sector, the acquisition of NC Entertainment by an individual was approved by the Commission.

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