ISLAMABAD: The Competition Commission of Pakistan (CCP) has authorised acquisition of 100 percent shareholding of M/s Gallant Energy (Private) Limited by M/s Gul Ahmed Holdings (Private) Limited, pursuant to a Share Purchase Agreement.
Gul Ahmed Holdings (Private) Limited, is a private limited company, primarily focused on investment activities across various sectors. Gallant Energy (Private) Limited, specialises in the filling and distribution of liquefied petroleum gas (LPG), a vital energy source for households and industries in Pakistan.
The CCP has identified the relevant product market as ‘Liquefied Petroleum Gas (LPG)’. Based on the information provided, Gallant Energy currently holds less than 1 percent of the market share in the LPG sector. Following the transaction, the market share of Gul Ahmed Holdings is projected to see a nominal increase.
The CCP’s assessment has confirmed that the proposed transaction would not lead to the creation or enhancement of a dominant position in the relevant market, as defined under Section 2(1) (e) read with Section 11 of the Competition Act, 2010, and the Merger Regulations.
By authorising this transaction under Section 31(1) (d) (i) of the Competition Act, the CCP reaffirms its commitment to safeguarding fair competition and promoting efficiency in Pakistan’s LPG market. The CCP will continue to monitor market activities to ensure that competition thrives across all sectors, benefiting both businesses and consumers in Pakistan.
Copyright Business Recorder, 2024
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