ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the acquisition of majority shareholding in Euro Gas (Private) Limited by BBE D Pte. Limited, according to a press release issued Tuesday.
BBE D Pte. Limited, a Singapore-based investment holding company and wholly owned subsidiary of BB Energy Group Holding Limited, will acquire the stake under a Share Purchase and Share Subscription Agreement.
Euro Gas, incorporated in Pakistan in 2022, has not yet commenced commercial operations but intends to enter the Liquefied Natural Gas (LNG) sector subject to regulatory approvals. After the transaction, the sellers will retain a minority shareholding.
The CCP said its review found that the deal does not raise competition concerns at this stage since Euro Gas has not yet entered the market.
It added that Euro Gas’s planned entry could enhance competition and diversify supply in the LNG sector, which is currently dominated by state-owned entities.
