Loads Ltd via rights issue: CCP approves Treet’s additional stake acquisition

ISLAMABAD: Treet Corporation Ltd is expanding its footprint in Pakistan’s automotive industry after the Competition Commission of Pakistan (CCP) approved the company’s acquisition of additional shareholding in auto parts manufacturer Loads Ltd through a rights issue.

Documents available with the Business Recorder show that the Commission has authorized Treet’s subscription of additional ordinary shares in Loads Limited following a Phase-I competition assessment under the Competition Act, 2010.

The transaction marks another step in Treet’s ongoing transformation from a traditional consumer products manufacturer into a diversified industrial group with growing interests in mobility, engineering and manufacturing.

Best known for its razor and blade business, Treet has, over the years, diversified into batteries, corrugated packaging, soaps, pharmaceutical concentrates, electric bikes, electric rickshaws and workforce solutions. Increasing its investment in Loads signals a deeper commitment to Pakistan’s automotive value chain at a time when the industry is gradually repositioning itself for localisation, electric mobility and export-oriented manufacturing.

Loads Limited is among Pakistan’s established automotive parts manufacturers, producing radiators, exhaust systems and metal sheet components for the country’s vehicle assemblers and aftermarket. Industry experts view the company as one of the few local manufacturers with significant engineering capabilities in thermal and exhaust systems.

According to the CCP order, Treet sought regulatory approval under Section 11 of the Competition Act to subscribe to additional shares being issued by Loads through a rights issue. The Commission subsequently authorized the transaction under Section 31 after concluding that it does not raise competition concerns.

The regulator identified the relevant markets as exhaust systems, radiators and metal sheet components in Pakistan.

The Commission observed that Treet and Loads are already associated undertakings with common management representation. Consequently, the increase in shareholding represents an internal equity investment rather than the entry of a new market participant.

The competition assessment concluded that the transaction would not alter the parties’ market shares, create barriers to entry or strengthen a dominant market position. It further found that the rights issue would not substantially lessen competition in the relevant markets.

For Treet, however, the transaction appears to be strategically more significant than its regulatory implications.

The transaction reflects Treet Corporation’s continuing diversification beyond its traditional businesses into industrial manufacturing and the automotive sector.

By increasing its stake in Loads Limited, the company strengthens its presence in Pakistan’s automotive components industry, which is expected to benefit from greater localisation and evolving mobility trends.

The approval also underscores the CCP’s commitment to facilitating legitimate corporate restructuring and investment through timely merger reviews while ensuring that market competition remains unaffected.

Copyright Business Recorder, 2026