The Competition Commission of Pakistan (CCP) has cleared Nippon Express (South Asia & Oceania) Pte. Limited to acquire a stake in TCS Logistics (Private) Limited, saying the deal poses no threat to competition in the domestic logistics sector.
In a statement on Monday, the watchdog said its Phase-I review under the Competition Act, 2010, found the combined market share of the two companies to be negligible, meaning the transaction was unlikely to result in a substantial lessening of competition.
Nippon Express, a Singapore-incorporated subsidiary of Japan’s Nippon Express Holdings, operates across South Asia and Oceania, while TCS Logistics is a major player in Pakistan’s third-party logistics (3PL) industry.
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The CCP said the acquisition could deliver efficiency gains by bringing global expertise into the local market, improving service quality and operational capacity. It added there was no indication that the deal would create or reinforce barriers to entry.
With the green light from the regulator, the transaction has been authorized under Section 31 of the Competition Act, 2010.
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