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Business & Finance Print edition: 2024-01-03

CCP approves Singapore shipping firm merger with Pak subsidiary

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By Recorder Report

ISLAMABAD: The Competition Commission of Pakistan (CCP) has given approval for a merger in the deep-sea container liner shipping services market. Through the approved merger, PIL Holdings Pte Ltd acquires minor shareholding in PIL Pte Ltd. Both entities are registered in Singapore.

PIL Pte has an indirect subsidiary in Pakistan called Pacific Delta Shipping (PDSPL). PDSPL serves as the designated local agent in Pakistan, helping manage shipments and cargo for PIL Pte Group customers in the country. The merger showed the interest of foreign entities in Pakistan’s cargo and shipment sector.

CCP approves two mergers

The acquirer PIL Holdings is primarily engaged in investment holdings while PIL Pte is currently active on the Far East Asia to Pakistan route (China-Vietnam-Singapore-Malaysia-Sri Lanka-India-Pakistan) and vice versa.

Copyright Business Recorder, 2024

Competition Commission of Pakistan CCP

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