DNA
Islamabad, 2 Jan: The Competition Commission of Pakistan (CCP) has given approval for a merger in the deep-sea container liner shipping services market. Through the approved merger, M/S. PIL Holdings Pte. Ltd. acquires minor shareholding in M/s. PIL Pte. Ltd. Both entities are registered in Singapore.
PIL Pte. has an indirect subsidiary in Pakistan called Pacific Delta Shipping (PDSPL). PDSPL serves as the designated local agent in Pakistan, helping manage shipments and cargo for PIL Pte. Group customers in the country. The merger shows the interest of foreign entities in Pakistan’s cargo and shipment sector.
The acquirer PIL Holdings is primarily engaged in investment holdings. While PIL Pte. Is currently active on the Far East Asia to Pakistan route (China-Vietnam-Singapore-Malaysia-Sri Lanka-India-Pakistan) and vice versa. It also owns and operates an international carrier with a presence in China, Southeast Asia, Africa, the Middle East, Latin America, Oceania, and the Pacific Islands.
The phase 1 review of the merger application concluded that the proposed transaction would not lead to the dominance of PIL Holdings in the relevant market post-transaction. Consequently, the merger has been authorized by the CCP.
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