AGL 40.05 Decreased By ▼ -0.11 (-0.27%)
AIRLINK 129.74 Decreased By ▼ -1.99 (-1.51%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.62 Increased By ▲ 0.15 (3.36%)
DCL 8.85 Increased By ▲ 0.03 (0.34%)
DFML 41.91 Increased By ▲ 1.30 (3.2%)
DGKC 83.97 Decreased By ▼ -0.11 (-0.13%)
FCCL 32.70 Increased By ▲ 0.36 (1.11%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.50 Increased By ▲ 0.15 (1.32%)
HUBC 110.50 Decreased By ▼ -1.26 (-1.13%)
HUMNL 14.65 Increased By ▲ 0.34 (2.38%)
KEL 5.40 Increased By ▲ 0.18 (3.45%)
KOSM 8.41 Decreased By ▼ -0.57 (-6.35%)
MLCF 39.89 Increased By ▲ 0.46 (1.17%)
NBP 60.45 Increased By ▲ 0.16 (0.27%)
OGDC 198.45 Increased By ▲ 3.51 (1.8%)
PAEL 26.63 Decreased By ▼ -0.06 (-0.22%)
PIBTL 7.71 Increased By ▲ 0.23 (3.07%)
PPL 158.00 Increased By ▲ 2.23 (1.43%)
PRL 26.69 Increased By ▲ 0.01 (0.04%)
PTC 18.40 Increased By ▲ 0.10 (0.55%)
SEARL 82.19 Decreased By ▼ -0.83 (-1%)
TELE 8.34 Increased By ▲ 0.11 (1.34%)
TOMCL 34.45 Decreased By ▼ -0.10 (-0.29%)
TPLP 9.14 Increased By ▲ 0.33 (3.75%)
TREET 17.32 Increased By ▲ 0.62 (3.71%)
TRG 61.30 Decreased By ▼ -1.15 (-1.84%)
UNITY 27.35 Decreased By ▼ -0.09 (-0.33%)
WTL 1.37 Increased By ▲ 0.09 (7.03%)
BR100 10,400 Increased By 213 (2.09%)
BR30 31,653 Increased By 316.8 (1.01%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved internal restructuring involving M/s Nishat Chunian Limited (NCL), M/s Nishat Chunian Power Limited (NCPL), M/s Nishat Mills Limited (NML), and the CEO of NCL, Shahzad Saleem. This internal restructuring, undertaken as part of the Scheme of Arrangement, aims to streamline the corporate structure of the Nishat Chunian Group.

The CCP’s Phase-1 competition assessment has revealed the primary business activities of each undertaking involved in the transaction. Nishat Chunian Limited (NCL), a publicly listed company, engages in textile-related operations, including spinning, weaving, dyeing, fabric processing, and the generation and sale of electricity.

Nishat Chunian Power Limited (NCPL), a public listed company, specializes in building, owning, and operating fuel-fired power stations. It functions as an Independent Power Producer (IPP) and has a Power Purchase Agreement with the Central Power Purchasing Agency (Guarantee) Ltd (CPPA-G).

Similarly, Nishat Mills Limited (NML), another publicly listed company, focuses on textile manufacturing with activities spanning spinning, weaving, and the production of various fabrics, while also engaging in electricity generation.

In its assessment, the CCP has identified the relevant product markets as ‘spinning, weaving, home textile, and thermal power generation- CPPA-G’. The restructuring will lead to a nominal increase in Shahzad’s shareholding in NCL, while NML will experience a slight rise in its shareholding in NCPL.

Despite these changes, the CCP has confirmed that the transaction will not result in any market dominance by the merger parties.

Copyright Business Recorder, 2024

Comments

Comments are closed.