CCP clears acquisition of shareholding in Heavy Electrical Complex

The Competition Commission of Pakistan (CCP) on Tuesday approved the acquisition of shares in Heavy Electrical Complex (Pvt) Ltd by DW Pakistan (Pvt) Ltd from IMS Engineering (Pvt) Ltd under a share purchase agreement, the CCP said in a statement.

DW Pakistan is engaged in investments and acquisitions across various sectors but has no operations in manufacturing, engineering, or energy markets.

Heavy Electrical Complex manufactures and repairs power transformers, while IMS Engineering provides engineering, procurement, and construction services.

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The CCP identified the relevant product market as power transformers and noted that the transaction constituted a conglomerate merger.

The watchdog concluded that the deal would not eliminate any existing or potential competition nor create or strengthen a dominant position in the market.