The Competition Commission of Pakistan (CCP) has approved the acquisition of shareholding in IMS Electric (Private) Limited under a share purchase agreement, according to a CCP statement on Thursday.
The shares will be acquired by Danish Ghous and Syed Jawad Bin Saghir from the current shareholders — Ms Anila Haq, Mr Faizan Ul Haq, and Ms Tooba Haq.
In its Phase-I review, the CCP assessed the relevant product market as “Switchgears and Transformers”.
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“The commission concluded that the proposed transaction does not substantially lessen competition nor create or strengthen a dominant position in the market,” the statement read.
IMS Electric (Private) Limited, formerly known as Schneider Electric Pakistan, is engaged in the manufacturing and sale of switchgears and distribution boards, as well as the trading of transformers. The company also provides services related to electrical erections and installations.
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