CCP approves Coca-Cola Turkey's acquisition of Coca-Cola Pakistan
MG News | October 14, 2023 at 11:39 PM GMT+05:00
October 14, 2023 (MLN): The Competition Commission of Pakistan (CCP) has granted approval to the acquisition of Coca Cola (Pakistan) by Coca-Cola Içecek (Turkey) under phase-1 review of the Competition Act, 2010, and the Competition (Merger Control) Regulations, 2016, said a press release issued today.
Coca-Cola Içecek (Turkey) acquired 49.67% shareholding of Coca Cola (Pakistan) through CCI International Holand (one of its subsidiaries) from Atlantic Industries.
The transaction involves total consideration of USD 300 million. After this transaction, Coca Cola Turkey will own majority of shareholding in Coca Cola (Pakistan) with management.
This is a significant vote of confidence that Pakistani economy has great potential for above-average returns on their capital for international investors.
The Chairman and Mergers team has streamlined, merger system and process to expedite mergers/acquisitions applications to facilitate international investors.
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