Islamabad, November 27, 2014 (PPI-OT): The Competition Commission of Pakistan (CCP) today issued its no objection certificate for the transaction pertaining to acquisition of shares of Masood Textile Mills Limited by Shanghai Challenge Textile Company Limited. The transaction was notified under the Competition Act 2010 on 28 October 2014.
The CCP carried out a detailed and intensive Phase I review, after which it approved the acquisition as it would not result in substantial lessening of competition by creating or strengthening a dominant position in the spinning mills market in Pakistan.
For more information, contact:
Director (Media and Communications)
Competition Commission of Pakistan (CCP)
7th Floor South, ISE Towers,
55-B, Jinnah Avenue, Islamabad, Pakistan
Tel: +92-51-9100260-3, +92-51-9100256