Maple Leaf Cement’s Faysal Bank share acquisitions get CCP approval

The Competition Commission of Pakistan has authorised Maple Leaf Cement Factory Limited to acquire shares in Faysal Bank Limited following a review under the Competition Act, 2010, the commission said on Thursday.

The transactions, carried out through open market purchases on the Pakistan Stock Exchange during 2025, form part of Maple Leaf Cement’s ongoing investment in the banking sector.

One of the acquisitions had already been completed before obtaining regulatory approval. After reviewing the matter, the CCP granted ex-post facto authorisation, stating the transaction posed no competition concerns. The company was reminded to follow pre-merger approval requirements under the Competition (Merger Control) Regulations, 2016 for future deals.

In addition, the regulator approved Maple Leaf Cement’s proposed purchase of further shares, which will increase its overall stake in Faysal Bank.

Phase-I competition assessments were conducted to evaluate potential market impacts. The CCP noted that Maple Leaf Cement operates in cement manufacturing, while Faysal Bank operates in banking, meaning the two entities have distinct and unrelated business activities. The commission concluded that the deals do not involve horizontal or vertical overlaps and are unlikely to reduce competition or strengthen a dominant position in commercial banking in Pakistan.

“These investments support capital formation and enhance investor participation in the country’s banking sector,” the commission said, finalising authorisation under Section 31(1)(d)(i) of the Competition Act, 2010.