CCP grants another acquisition approval

ISLAMABAD  –  The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of a certain shareholding in M/s. Heavy Electrical Complex (Private) Limited by M/s. DW Pakistan (Private) Limited from M/s. IMS Engineering (Private) Limited under a share purchase agreement. The ‘acquirer’ is engaged in investment and acquisition across various sectors. Currently, it is not operating in manufacturing, engineering, or energy markets. The ‘target’ is engaged in the manufacturing and repair of power transformers, including large capacity units used in Pakistan’s power transmission and distribution systems. While, the ‘seller’ is involved in providing engineering, procurement, construction (EPC) and commissioning services. The CCP identified the relevant product market as power ‘transformers’. The competition analysis further suggests that the transaction constitutes a conglomerate merger and does not eliminate any existing or potential competitor in the relevant market. The Commission concluded that the transaction would not create or strengthen a dominant position in the market of Power Transformers.

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