ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the acquisition of M/s Alif Innovations (Private) Limited by London-based M/s Alif Capital Holdings Limited.

M/s Alif Capital Holdings Limited, a private limited company registered in England and Wales, acts as a holding company for various investments. The target company, M/s Alif Innovations (Private) Limited, is registered in Pakistan, specialising in e-commerce services and solutions.

The transaction involves the purchase of shares from the two individual shareholders of Alif Innovations. Alif Capital Holdings Limited provides an ecosystem of financial and technological solutions. It includes widely used financial app Alif Mobi, a popular buy-now-pay-later payment system, the online retail platform Alif Shop, and a fast, secure remittance system.

The Phase-I assessment by CCP identified ‘E-commerce’ as the relevant geographic market. The assessment revealed that Alif Innovations, being a new player, currently holds no market share. Post-acquisition, Alif Capital Holdings is expected to achieve a nominal market share in the relevant market.

Copyright Business Recorder, 2024