Nimir Chemicals to acquire P&G assets, CCP approves

News Image

By MG News | July 11, 2024 at 10:50 AM GMT+05:00

0:00

July 11, 2024 (MLN): The Competition Commission of Pakistan (CCP) has approved a merger in the consumer care market, involving the acquisition of certain assets of Procter & Gamble Pakistan (Pvt.) Ltd. (P&G) by Nimir Industrial Chemicals Ltd. (PSX: NICL) pursuant to an Asset Purchase Agreement (APA).

P&G is a company incorporated in Pakistan with extensive business footprint in production and sale of various household products including manufacturing of its own brand of toilet soap i.e. Safeguard.

Nimir is a public listed company established in 1964 and has a diverse product portfolio along with toll manufacturing of aerosol, soap products, home and personal care products.

In view of the terms set out in APA, Nimir intends to acquire certain assets of P&G relating to its manufacturing facility of toilet soap, ‘Safeguard’, and its real estate property located in Hub, Balochistan.

The relevant product market as identified in CCP’s Phase I competition assessment is ‘Personal Care – Hard Soap’.

The assessment also confirmed that the proposed transaction will not result in dominance of Nimir in the relevant market, post-transaction, given its small share.

With this approval, CCP expects improved operations with Nimir’s state-of-the-art manufacturing facilities that comply with international standards and quality assurance, thus, contributing towards developing innovative industrial chemical solutions as well as national economic prosperity.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 05, 2025 at 11:58 PM GMT+05:00

Weekly Market Roundup


July 05, 2025 at 02:57 PM GMT+05:00

National Savings Schemes see over Rs27bn inflow in May


July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola


July 04, 2025 at 08:01 PM GMT+05:00

TRG in Supreme Court



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg