AGL 40.00 Decreased By ▼ -0.01 (-0.02%)
AIRLINK 127.00 Decreased By ▼ -0.99 (-0.77%)
BOP 6.68 Increased By ▲ 0.08 (1.21%)
CNERGY 4.49 Decreased By ▼ -0.11 (-2.39%)
DCL 8.60 Increased By ▲ 0.12 (1.42%)
DFML 41.30 Decreased By ▼ -0.18 (-0.43%)
DGKC 86.71 Increased By ▲ 0.13 (0.15%)
FCCL 32.16 Increased By ▲ 0.02 (0.06%)
FFBL 64.70 Decreased By ▼ -0.72 (-1.1%)
FFL 10.29 Increased By ▲ 0.04 (0.39%)
HUBC 109.51 Decreased By ▼ -0.98 (-0.89%)
HUMNL 14.90 Increased By ▲ 0.15 (1.02%)
KEL 5.05 Decreased By ▼ -0.08 (-1.56%)
KOSM 7.40 Increased By ▲ 0.28 (3.93%)
MLCF 41.39 Decreased By ▼ -0.26 (-0.62%)
NBP 60.60 Increased By ▲ 0.51 (0.85%)
OGDC 190.00 Decreased By ▼ -4.69 (-2.41%)
PAEL 27.81 Decreased By ▼ -0.14 (-0.5%)
PIBTL 7.75 Decreased By ▼ -0.25 (-3.13%)
PPL 149.75 Decreased By ▼ -1.42 (-0.94%)
PRL 26.73 Decreased By ▼ -0.15 (-0.56%)
PTC 16.18 Increased By ▲ 0.18 (1.13%)
SEARL 86.02 Increased By ▲ 7.82 (10%)
TELE 7.72 Increased By ▲ 0.33 (4.47%)
TOMCL 35.58 Decreased By ▼ -0.09 (-0.25%)
TPLP 8.14 Increased By ▲ 0.23 (2.91%)
TREET 16.51 Increased By ▲ 0.62 (3.9%)
TRG 53.35 Increased By ▲ 0.59 (1.12%)
UNITY 26.28 Decreased By ▼ -0.27 (-1.02%)
WTL 1.26 Decreased By ▼ -0.01 (-0.79%)
BR100 9,884 Decreased By -36.4 (-0.37%)
BR30 30,600 Decreased By -151.5 (-0.49%)
KSE100 93,355 Increased By 130.9 (0.14%)
KSE30 28,931 Increased By 46 (0.16%)

The Competition Commission of Pakistan (CCP) has approved the acquisition of Fauji Foundation’s Fauji Cereals business by Fauji Foods Limited, the regulator informed on Tuesday.

The Fauji Foundation submitted a pre-merger application to the CCP under Section 11 of the Competition Act, 2010.

“The proposed transaction involves the acquisition of the Fauji Cereals business by Fauji Foods Limited through a Business Transfer Agreement. Fauji Foods Limited is a publicly listed company incorporated in Pakistan, primarily focused on the production and sale of dairy and allied products,” said CCP spokesperson in a statement.

Fauji Foods eyes multiple Fauji Foundation businesses

Fauji Cereals (established in 1954), a fully owned company of Fauji Foundation in collaboration with Quaker Oats, England started trial production operation by end 1956.

“CCP’s assessment of the pre-merger application indicated that there were no overlaps between the merging parties in the areas of business activities such as breakfast cereals and wheat, barley and porridge. Therefore, the CCP concluded that market conditions will remain unchanged post-transaction, with no significant alteration to the competitive landscape in these product categories,” spokesperson added.

Following competition assessment, CCP concluded that the proposed transaction involved the acquisition of shares and did not suggest any substantial lessening of competition or the creation or strengthening of a dominant position in the relevant market.

CCP allows Lucky Cement, Fatima Fertilizer to acquire 67% stake in National Resources

“Restructuring will ensure the breakfast cereal business is consolidated under one arm and result in future profitability,” the regulator said.

Under the umbrella of the Fauji Group of Companies, with major shareholding by FFBL – Fauji Foods Limited was founded in 2015 after the acquisition of Noon Pakistan Limited, a company with an over 50-year dairy legacy in Pakistan.

Comments

Comments are closed.