Fatima Fertilizers, Lucky Cement acquire direct stake in Balochistan-based mining company

ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted approval to two significant mergers in Balochistan's copper and minerals mining sector. The approvals mark a pivotal step towards fostering development in the region's mineral industry.

As per details, the approved mergers involve the acquisition of a cumulative 66.66% shareholding in M/s. National Resources (Private) Limited by two publicly listed companies. 

M/s. Lucky Cement Limited, a prominent player in the cement manufacturing and marketing sector, initiated the merger process by submitting a pre-merger application to acquire a 33.33% stake in National Resources (Private) Limited from M/s. Y.B Pakistan Limited. It is noteworthy that YB Pakistan, sponsored by Yunus Brother Group is also a group company of the larger Lucky Group of Companies.

Similarly, M/s. Fatima Fertilizer Company Limited, a distinguished entity in fertilizer and chemical production, sought approval to acquire the same share percentage from M/s. Reliance Commodities (Private) Limited.

Bothe Lucky and Fatima groups are frontline businesses in Pakistan. While Fatima group mainly focuses on fertilizer, textile, sugar and energy businesses, Lucky is a frontrunner in cement, energy, manufacturing among other businesses.

National Resources (Private) Limited, a private limited company, is a company that is actively engaged in exploration, survey, extraction, excavation, mining, and boring of minerals. With its primary focus on developing Balochistan's mineral sector, the infusion of investment promises to catalyze mineral exploration efforts in the region.

By scrutinizing the proposed transactions, CCP ensured that the mergers would not result in the acquirers gaining undue dominance in the relevant market post-transaction. Beyond financial gains, these mergers hold the promise of unlocking new opportunities and fostering innovation in Balochistan's mineral sector. As Balochistan moves forward with these approved mergers, it embarks on a journey towards enhanced economic development and prosperity, with the mineral industry poised to play a pivotal role in driving sustainable growth and progress in the region.