February 16, 2024 (MLN): In a significant development for the minerals sector in Balochistan, the Competition Commission of Pakistan (CCP) has approved the offer by Lucky Cement Limited (LUCK) and Fatima Fertilizer Company Limited (FATIMA) to acquire a combined total of 66.66% shares in National Resources (Private) Limited.
National Resources (Private) Limited is engaged in the exploration, survey, extraction, excavation, mining, and boring of minerals.
Its primary purpose is the potential development of the mineral sector in Balochistan. The infusion of investment in this sector will give a boost to mineral exploration.
LUCK sent a pre-merger application to acquire 33.33 % shares in National Resources (Private) Limited from Y.B. Pakistan Limited.
Similarly, FATIMA sent a pre-merger application to acquire a 33.33 % shareholding in National Resources (Private) Limited from Reliance Commodities (Private) Limited.
CCP approved the mergers as the proposed transactions did not lead to the acquirers’ gaining dominance in the relevant market post-transaction.
Lucky Cement and Fatima Fertilizer's interest in investing in the mining sector signifies a positive shift towards economic diversification and growth, promising to unlock new opportunities and drive innovation.
