The Competition Commission of Pakistan (CCP) has approved the acquisition of a 40.63% shareholding of Mitchell’s Fruit Farms Limited by CCL Holding (Private) Limited from Ms Syeda Maimanat Mohsin and Ms Syeda Matanat Ghaffar under a Share Purchase Agreement, following a comprehensive competition assessment, according to a CCP statement on Monday.
The CCP said it had identified the relevant product market as ‘jam, jellies and marmalades’, ’sauces and kitchen condiments, ‘sugar confectionery’, and ‘one-step preparation drinks’.
“The deal is a conglomerate merger with no horizontal or vertical overlaps between the acquirer and the target.
“The commission concluded that the transaction will not result in dominance or lessening of competition in the relevant market,” the statement read.
CCP grants exemptions to logistics and transport sector
M/s CCL Holding (Private) Limited formerly known as M/s DHS Pharma (Private) Limited is a private limited company. It is a holding company and does not engage itself in commercial trading or manufacturing activities.
However, its group of companies are primarily engaged in healthcare and pharmaceutical sector, including manufacturing and distribution of pharmaceutical products, according to the CCP.
M/s. Mitchell’s Fruit Farms Limited is registered as public limited and a listed company, engaged in the manufacturing and sale of various confectionery and grocery items.
American Dollar Exchange Rate