The Competition Commission of Pakistan (CCP) has approved the acquisition of a majority stake in Ranipur Sugar Mills Private Limited by Saakh Pharma Limited and United Ethanol Industries Limited under a Phase I review.
Ranipur Sugar Mills operates in sugar manufacturing along with related byproducts and power generation through its own facility.
Saakh Pharma is a listed company engaged in pharmaceutical and biological products, while United Ethanol Industries operates in ethanol and other industrial products within the agribusiness sector.
During its review, the Commission noted that the transaction had already been completed before receiving regulatory approval. It reminded the parties that prior approval is a legal requirement for such mergers and acquisitions. The acquiring companies have submitted an undertaking to ensure compliance in future transactions.
The CCP categorized the deal as a conglomerate merger, noting that the companies operate in largely unrelated sectors with only limited vertical integration.
It also observed that Ranipur Sugar Mills has a relatively small market share and that the transaction does not create supply dependencies or raise significant competition concerns.
Based on its assessment, the Commission concluded that the acquisition is unlikely to strengthen a dominant market position or reduce competition in the relevant markets. The deal was therefore approved under competition law.
