The Competition Commission of Pakistan (CCP) has approved the proposed acquisition of Attock Cement Pakistan Ltd by Fauji Cement Co Ltd and Kot Addu Power Co Ltd following a Phase-I review under the Competition Act, 2010.
The buyers filed a pre-merger application on 3 February to acquire a controlling stake in Attock Cement from Pharaon Investment Group Ltd under a scheme of arrangement dated 30 January. Upon completion, Fauji Cement and Kot Addu Power will jointly control the listed cement producer.
The CCP noted that while the transaction involves a horizontal overlap between Fauji Cement and Attock Cement, the combined market share would remain below the statutory dominance threshold. It added that Pakistan’s cement sector continues to comprise multiple established players.
The commission concluded that the deal is unlikely to create or strengthen a dominant position or substantially lessen competition and authorised the transaction under Section 11 of the Competition Act.
The approval relates solely to merger clearance and does not affect any ongoing inquiries or proceedings before the CCP or other forums.
