ISLAMABAD, Jul 11 (DNA):The Competition Commission of Pakistan (CCP) has approved a merger within the consumer care market.
The approved transaction entails the acquisition of certain assets of M/s Procter and Gamble Pakistan (Pvt.) Ltd (P&G) by M/s Nimir Industrial Chemicals Ltd (Nimir) under the Asset Purchase Agreement (APA), according to a press release issued here on Thursday.
P&G is a company incorporated in Pakistan with extensive business footprint in the production and sale of various household products including the manufacturing of its brand of toilet soap i.e. Safeguard. Nimir is a publicly listed company established in 1964 and has a diverse product portfolio along with toll manufacturing of aerosol, soap products, home, and personal care products.
In view of the terms set out in APA, Nimir intends to acquire certain assets of P&G relating to its manufacturing facility of toilet soap, ‘Safeguard’, and its real estate property located in Hub, Balochistan.
The relevant product market as identified in CCP’s Phase I competition assessment is ‘Personal Care – Hard Soap’. The assessment also confirmed that the proposed transaction will not result in the dominance of Nimir in the relevant market, post-transaction, given its small share.
With this approval, CCP expects improved operations with Nimir’s state-of-the-art manufacturing facilities that comply with international standards and quality assurance, thus, contributing towards developing innovative industrial chemical solutions as well as national economic prosperity.
