The Competition Commission of Pakistan (CCP) has approved the acquisition of M/s. Engro Eximp Agriproducts (Private) Limited by MAP Rice Mills (Private) Limited under a share sale and purchase agreement, a statement said on Wednesday.

Engro Eximp Agriproducts (Private) Limited is a Pakistan-incorporated company engaged in the production, manufacturing, and trade of various raw, processed, and prepared food products, including agricultural and farming goods.

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For the competition assessment, the relevant product market was identified as Basmati and Non-Basmati Rice. CCP’s evaluation found that MAP Rice Mills holds a minimal market share, which is expected to remain low post-transaction, as the change in market share will be nominal across both supply-side segments.

The CCP determined that the transaction does not pose any risk of market dominance or a substantial lessening of competition. Instead, the acquisition represents a horizontal integration, which is unlikely to raise competition concerns.

The CCP remains committed to ensuring that mergers and acquisitions comply with competition laws, fostering a fair and competitive market landscape.