The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of 100% shareholding of Gallant Energy (Private) Limited by Gul Ahmed Holdings (Private) Limited under a Share Purchase Agreement.
Gul Ahmed Holdings, a private investment entity with diverse sectoral interests, will now take ownership of Gallant Energy, which specialises in the filling and distribution of liquefied petroleum gas (LPG), a critical energy source for households and industries across Pakistan.
The CCP identified the relevant product market as LPG and noted that Gallant Energy holds less than 1% of the market share in the sector. The acquisition is expected to result in a negligible increase in Gul Ahmed Holdings’ market share.
After thorough evaluation, the CCP concluded that the transaction would not create or enhance a dominant position in the LPG market. The assessment was carried out under Section 2(1)(e) in conjunction with Section 11 of the Competition Act, 2010, and the Merger Regulations.
The CCP’s decision to approve the transaction under Section 31(1)(d)(i) of the Competition Act underscores its commitment to ensuring fair competition and promoting efficiency in the market. The regulator emphasised that it will continue to monitor the LPG sector and other markets to uphold competitive practices, ultimately benefiting businesses and consumers alike.
