ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved two acquisitions, reinforcing its commitment to promoting competition across sectors. The transactions involve M/s International Paper Company acquiring M/s DS Smith Plc, and M/s Pakistan Pencils (Private) Limited acquiring M/s YDE SA (SMC-Private) Limited.

M/s International Paper Company, a US based global leader in renewable fibre-based packaging and pulp products, is acquiring 100% shareholding of DS Smith Plc, a public limited company in England and Wales and the parent of the DS Smith Group.

DS Smith operates primarily in corrugated packaging across the European Economic Area. The indirect subsidiary of the group namely M/s TMS Pakistan (Private) Limited, supplies point-of-sale display stands to a single customer in Pakistan. The relevant market for this transaction has been identified as “Point of Sale Display Stands.”

The second transaction involves M/s Pakistan Pencils (Private) Limited acquiring 100% shareholding of M/s YDE SA (SMC-Private) Limited through a Share Purchase Arrangement.

Pakistan Pencils is a leading Pakistani manufacturer and distributor of stationery products, while YDE SA designs and installs renewable energy power plants and sells electricity in Pakistan.

The CCP has identified the relevant market for this transaction as “Distributed Power Generation – Bulk Power Consumer,” with YDE SA holding a nominal market share in the industry, according to NEPRA’s data.

Copyright Business Recorder, 2024