ISLAMABAD: The Competition Commission of Pakistan (CCP) has launched an Online Merger and Acquisition (M&A) Application filing system to facilitate local and foreign investors intending to invest in Pakistan through mergers, acquisitions, and joint ventures.
Pakistan is a compulsory merger regime where the companies/undertakings seeking M&A or joint ventures and meeting the prescribed threshold stipulated in the merger regulations have to apply for clearance from the CCP under Section 11 of the Competition Act, 2010.
In view the difficulties faced by the local and foreign investors in filing the merger applications in paper form amid the Covid-19 pandemic.
Through this system, companies can submit the required documents electronically using a predefined format through an online software application provided by the CCP.
An undertaking anywhere in Pakistan can now request for Merger and Acquisition NOC and also track the application online through this system, which can be accessed at CCP’s website.
While the undertakings are being asked to file merger applications online, the CCP cleared 9 mergers during the past week. Since January 2020, the CCP has approved 21 cases of merger, acquisitions, and joint ventures in various sectors of the economy. These include 2 merger cases, 1 joint venture, and 18 acquisitions.
The Commission has also resumed hearings to clear the backlog of various cases pending at CCP and keeping the health and safety of the respondents at forefront amid Covid-19, they have been allowed to participate in the hearings using video conferencing and other online tools.
Published in Dawn, May 15th, 2020