The Competition Commission of Pakistan (CCP) has approved the acquisition of a certain shareholding in Route2Health (Private) Limited by the UAE-based AZT Foundation, the regulator said on Friday.
According to the CCP, the shares will be acquired from Tausif Ahmad Khan, Zainub Abbas, and Javaid Hussain under a Share Purchase Agreement.
AZT Foundation was established to hold and manage assets on behalf of the sellers. Route2Health, a Pakistan-based company, operates in the manufacturing, marketing, and distribution of nutraceuticals and health supplements.
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The CCP said it carried out a detailed competitive assessment and identified the relevant product market as “nutraceutical and herbal supplements.” It noted that the deal qualified as a conglomerate merger since no horizontal or vertical overlaps exist between the buyer and the target company.
The Commission concluded that the acquisition would not create or strengthen a dominant position in the relevant market and cleared the transaction under Section 11 of the Competition Act, 2010.