ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved a Scheme of Arrangement for the merger of Shamim and Company (Pvt) Ltd (SCL) with JK Sugar Mills (Pvt) Ltd (JKSM).

JKSM is a private limited company that produces and sells sugar or related products in Pakistan. JKSM primarily produces refined white sugar, along with three by-products — molasses, bagasse, and mud.

SCL has been in the business of manufacturing and distributing PepsiCo products across Pakistan since 1967.

The CCP’s phase-I competition assessment identified two relevant markets: sugar and by-products and non-alcoholic beverages. As per the scheme, the transaction involves the merger of SCL with JKSM.

Moreover, post-transaction, SCL would be dissolved, and JKSM would be the surviving entity. The JKSM board of directors will continue to serve as directors of the merged entity.

Published in Dawn, July 9th, 2024