ISLAMABAD: The Competition Commission of Pakistan (CCP) has given the green light to two mergers paving the way for foreign direct investment (FDI) and the potential mitigation of Pakistan’s gas shortage.
The CCP has granted a UAE-based company approval for the acquisition of two entities engaged in the establishment and operation of an LNG terminal, as well as the import, storage, and distribution of Liquefied Natural Gas (LNG) and re-gasified liquefied natural gas (RLNG) in Pakistan.
The watchdog approved the 100 per cent acquisition of Tabeer Energy (Pvt) Ltd (TEPL) and Tabeer Energy Marketing (Pvt) Ltd (TEMPL) by the UAE-based Bison Energy FZCO.
It has completed the phase-1 competition assessments, conducted as per Section 11 of the Competition Act 2010. As the proposed transactions did not raise any competition concerns, the mergers were approved.
As a result of the merger transactions, Bison Energy has acquired the entire shareholding of TEPL and TEMPL from Diamond Gas International Japan Co Ltd.
Published in Dawn, October 1st, 2023
