ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of Coca-Cola (Pakistan) under the phase-1 review of the Competition Act, 2010, and the Competition (Merger Control) Regulations, 2016.

Coca-Cola Içecek (Turkiye) acquired a 49.67 per cent shareholding of Coca-Cola (Pakistan) through CCI International Holand (one of its subsidiaries) from Atlantic Industries. The transaction involves a total consideration of $300 million.

After this transaction, Coca-Cola Turkiye will own the majority of the shareholding in Coca-Cola (Pakistan) and take over its management.

This marks a significant vote of confidence in the Pakistani economy, demonstrating its great potential for above-average returns on capital for international investors. The chairman and the mergers team have streamlined the merger system and process to expedite merger and acquisition applications to facilitate international investors.

Published in Dawn, October 15th, 2023